Energy Prices

[cawacko]

This excerpt is from John Mauldin's column this morning. Since there could be another angle to this, for those who disagree why is he wrong or where is he mistaken or leaving something out?


"I have become increasingly convinced that the ESG movement, by trying to restrict investments in oil and gas ventures, is going to have the perverse effect of reducing supply even as global demand increases, thus making the price of energy rise. It is simply not rational for the developed world to expect developing countries to ignore the needs of their citizens to have access to power and clean water which requires energy, and specifically oil and gas (and to some extent coal)."

 

[ExpressLane]

This excerpt is from John Mauldin's column this morning. Since there could be another angle to this, for those who disagree why is he wrong or where is he mistaken or leaving something out?


"I have become increasingly convinced that the ESG movement, by trying to restrict investments in oil and gas ventures, is going to have the perverse effect of reducing supply even as global demand increases, thus making the price of energy rise. It is simply not rational for the developed world to expect developing countries to ignore the needs of their citizens to have access to power and clean water which requires energy, and specifically oil and gas (and to some extent coal)."

I have been saying this about Black Rock and their ESG investing.. It is having the effect of raising gasoline price. It's not the job of Black Rock. Black Rock's job is to invest money where the investor's money draws the best return. Access to cheap energy has helped to raise the living standards of the average American. It helps food production and transport of almost everything. Fossil fuel make 60% of our electricity even Joe Crapitalist's EV runs on fossil fuel 60% of the time.