ESG” = Extreme Shortages Guaranteed!
By Ronald Stein |January 17th, 2022|Energy
The Environmental, Social and Governance (ESG) factors climbing up the agenda in the banking industry would have banks divest in fossil fuels. This would lead toward a world like that in the 1800’s, the last time the world was “decarbonized”.
Back in the 1800’s, we had no coal or natural gas power plants, and we had not discovered crude oil as something that could be manufactured into usable products. Life was hard and dirty, and most people never traveled 100-200 miles from where they were born, and life expectancy was short.
Today, there is a lost reality that the primary usage of crude oil is NOT for the generation of electricity, but to manufacture derivatives and fuels which are the ingredients of everything needed by economies and lifestyles to exist and prosper. Energy realism requires that the legislators, policymakers, and media that demonstrate pervasive ignorance about crude oil usage understand the staggering scale of the decarbonization movement.
https://www.cfact.org/2022/01/17/esg-extreme-shortages-guaranteed/
