By Ronald Stein ~
Today, Environmental, Social and Governance (ESG) divesting in fossil fuels are all the rage on Wall Street these days to divest in all 3 fossil fuels of coal, natural gas, and crude oil, just to reduce emissions. Both President Biden and the United Nations support allowing banks and investment giants to collude to reshape economies and our energy infrastructure.
A group supported and promoted by the United Nations, the Principals of Responsible Investment (PRI), reported 4,721 signatories from more than 135 countries had signed PRI. Collectively, these businesses, investors, and investment management firms control more than $100 trillion in assets. The PRI pact emphasizes the importance of Environmental, Social, and Governance (ESG) disclosures and sponsors pressuring companies into ESG implementation.
While renewables continue to underperform in the generation of electricity from breezes and sunshine, the innocent bystander of crude oil that is seldom used for electricity…
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