ban-israel-trip
logo
logo

Profits Trump Going Green: ESG Funds Covertly Buying Oil Stocks as Green Agenda Creates Energy Shortage

ESG-aimed investment funds – which gauge companies based on their environmental, social and governance performances – are quietly investing in oil company stocks. Why am I not surprised? There’s a lot of neo-feudal claptrap floating around about saving the planet by leaving oil in the ground, switching to electrified mass transit, getting rid of air conditioning and killing all the cows. In other words, let the peasants freeze/boil in the dark, squeeze together in mass-transit-driven cities and eat bugs, saving the planet’s resources for the elites to jet among their several homes. And despite the impending demise of the planet (2030 or 2050, depending on the latest environmental prophecy), the green of the green movement is the color of money. As ESG investment funds virtue-signal about the evils of fossil fuels like oil, in Europe they’re pouring money into energy companies like Shell, Repsol, Aker BP ASA and Neste Oyj, according to zerohedge.com. They say oil stocks are hot and they’re buying them because oil companies are investing in transitioning to cleaner energy. Yeah, right. That’s a virtuous position, probably a cover story, and I’ll bet they’re investing in oil stocks because there’s a lot of money to be made in them right now with or without solar, wind or harnessing the power of fireflies. Or something. As of Friday, there was a 28.4 percent increase in the S&P 500 Energy Index this year, and that’s a lot of incentive for pious ESG investors to lose their virtue. And some of that more than 28 percent increase comes from oil shortages created by none other than the E in ESG itself. Decrees of the priests of Gaia have long pointed out the evils of oil, the lifeblood of contemporary civilization. So investment fell, but along came other factors making petroleum more valuable: Russia invading Ukraine and the inabilities of wind and solar to provide energy for Europe and elsewhere, according to oilprice.com Try as they might, the greenies and their acolytes peddling ESG cannot suspend the iron laws of supply and demand. So in the midst of post-pandemic economic problems and green-driven poor national policies in the U.S. and Europe, it turns out the lone S&P 500 economic sector showing gains year-to-date as of July 22 is energy. Driving the 28.4 percent energy gain for 2022 is integrated oil and gas, up 37.1 percent. That’s a big temptation for ESG funds. And they’re buying it. So, despite today’s hardships at the gas pump (and when the electric bill comes), our energy needs are ultimately wedded to the stuff that comes out of the ground. Because like the elites and their private jets, the wobbly pronouncements of ESG fund managers are showing the hypocrisy of current climate alarmism. Perhaps it’s overly optimistic to think we can wait them out and hope they return to their senses regarding the realities of energy. Because when they figure out their green dreams are just that — dreams — they’ll no doubt find something else to oppress the masses. As I have repeatedly been saying: Save the planet, starve the people. This article appeared originally on The Western Journal.

Related Articles

Support His Glory

His Glory Newsletter

This field is for validation purposes and should be left unchanged.