Corporate ESG and "net-zero" commitments crash into reality, leaders make a U-turn.
Restacked! And no matter how hard they might try, no one can repeal the laws of physics. In the battle between physics and hype, physics will always win.
What ho! A thoroughly honest accounting of the situation re: corporate and governmental straw grasping with big green tech. The alliance of dunces all virtue signaling their collusive and anti-capitalist corporatism were so blind to reality that many really believed in the "science" and do goodery behind their actions. It is a pleasure to watch them twist collectively in the wind. It is unpleasant that huge amounts of money have been amassed by the activist left in NGOs and other malthusian places that will continue pushing ever greater subsidies and governmental tyranny to counteract the markets natural reactions to pretzel logic and failing green business models. We face a formidable group of very angry lefties crazed with power and hell bent on the worst kind of infamy (H.S. Thompson).
As always eM has a cogent analysis backed up by data. You guys are great.
German Minister for Economic Affairs and Climate Action Robert Habeck Is engaging in the Big Lie in order to buy time.
5 years of pain is a lie as the pain will continue to grow every year if they don’t change direction.
Great Article! Very informative. Love your Charlitician, (def: government grifter with plausible deniability).
With all these major oil companies scaling back their E&P over the last few years I would think that an oil shortage, (read much higher prices), may be on the horizon as any major project takes years to develop. You can only fire so many bullets from the strategic petroleum reserve.
Wonderful article, keep up the good work!
You have illustrated the sad outcome of prostituted policies of present day businesspolitical cross breeding. The hideous policies of Charlaticians™ (what a wonderful term!) and the C-suite whores of business ready to sell their souls to the highest government subsidy scheme was a warning given in 1961 by retiring President Dwight Eisenhower. I suggest to all, read carefully his farewell address that most people only remember for his "militaryindustrialcomplex" warning. The man was prescient with that as well as the business and educational systems, and we ignored him at our own peril.
Access the hand annotated version of the speech here:
This comment was in today's post of The Honest Broker, as taken from an article in the Financial Times:
Companies rated highly on widely accepted environmental, social and governance metrics pollute just as much as lowly rated companies, research has found.”
No doubt you find that shocking. About the only apt description I can think of for ESG is that it the equivalent of putting lipstick on a pig. Anybody else have a better suggestion?
Seems it never occurred to the ESG movement that it was composed of Woke groups with many different agendas and not a few of them were ideologically incompatible with each other, so now EDS is eating itself.
"Go Woke, Go Broke" applies to them too, it seems!
Good article. Amazing how things change when the rubber hits the road. Reality is a tough pill to swallow... or sweep under the carpet.
In truth, I wish all converts to sanity well as our personal well-being depends on them do so.
BP CEO Bernard Looney... Sometimes the jokes write themselves.
Great article MENTAL. I always thought the ESG movement was just another wall street scam to syphon money out of the pockets of the retail plebs. Get a teenage girl (Greta) to scream hysterically about her future, the adults in the room nod their heads, the bankers then provide the 'adults' with an avenue to feel better about themselves while allegedly saving the children's futures. Then, a cottage industry of parasitic consultants evolves to help the bankers fleece the public more efficiently before turning their attention to blackmailing major corporations to make generous tithes for their sin of carbon production.
To quote Will Ferrell from Zoolanders, "Does anyone else notice this? I feel like I am on crazy pills."
Fascinating to watch what happens when ideology runs headlong into reality. Thanks for a great write-up, EnvironMENTAL!
Is it just me or does that “German Green Party rock star” lock like a young Al Gore? What are the odds...
Environment Sustainability Governance (ESG) and Net Zero goals in retreat. That doesnt mean the dysfunctional HR and PR bureaus within corporations will go away, nor does it mean the blockage of western infrastructure finance for lower level countries will be removed. Eco imperialism, identity factionalism, and pro-western electoral forms remain inherent to the advertising of western business to global markets, while the cost of infrastructure from the BRIICS beats them on price.
I'm going to enjoy this for a few minutes. Until they find another way to rip us off, and they certainly will. The nicest part? It makes THEM look bad instead of the rest of civilization! They are a bunch of rich, spoiled, stupid, and immature babies.