Sat. Jan 29th, 2022

Commentary President Joe Biden’s nominee for comptroller of the currency, a critical federal official charged with overseeing large banks, declared war on the fossil fuel industry: “We want them to go bankrupt,” said Saule Omarova. Omarova isn’t alone in her desire for financial institutions to discriminate against the energy producers that make their existence possible. Progressive activists and Wall Street financiers are teaming up to promote environmental, social, and governance (ESG) investing practices that place political whims on a pedestal—at the expense of our lives and livelihoods. The Biden administration’s endorsement of this brazen anti-energy movement threatens Americans’ money and future—and could have unsettling ripple effects throughout our economy. Here’s how it works: Pension funds invest the money of retirees and future retirees. Fund managers should make the smartest investments they can in order to ensure retirees have enough money to live on. But under ESG, they’re not making the …

Author: Jason Isaac
Source: https://www.theepochtimes.com/wall-streets-energy-discrimination-will-hurt-america_4108504.html

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