ESG and Your 401k. The Wrecking of Your Retirement Plan
From the Political Party Pooper Play Book (P4B)
I’ll break this one up. It hits a lot of bases and each needs to be acted on agressivley.
Bottom Line Up Front (BLUF):
Remove impediments to drilling. fix issues with leases, permits, rights of away and royalties. And get the pipelines finished!
Outlaw the use of ESG in in the investment of private money, IRAs, 401ks. Investment companies have a DUTY to see that their investors make a MARKET return on their money. It is their job to grow that money. They have no right to handicap those returns for personal or nakedly political purposes.
GOP: You should be pounding podiums on this NOW!
People are shocked at the beating our energy sector, especially the oil and gas components, have taken in the last two years. But the truth is the damage has been accumulating since the middle of the Obama years. Trump helped a little, but there are insidious plans being pursued by corrupt government officials and investment banks that want to crush the oil and gas industries and sit atop an absolutely atrocious wind and solar empire of their own creation. As I said in post 4, episode 1, when the real lack of value of wind and solar is finally realized, these wind and solar farms will be rotting hulks blighting our landscape.
The people hatching this plot, like Blackrock and Vanguard, don’t care. They are going to accrue trillions of dollars by then. Their government sycophants have already promised the industry AND money to them. They’re already collecting billions and have barely gotten started. Then when it goes south, as it will, they will declare bankruptcy, a la Solyndra. Having already made trillions, they will parachute out with what is left of your money. The hulks will remain, rotting in place.
Part of their plan, already well underway, is to intentionally make oil and gas bad investments. Hard to believe, I know. The most critical resources to our nation are fast becoming impossible to invest in.
Let’s say you own an oil drilling company.
The approach is multi-pronged. Primarily it consists of corrupt officials placing ridiculous restrictions on, for example, drilling companies. You can have the leases, but they are going to make it impossible for any but the most powerful companies to get them. And for those companies, only a few leases per will be authorized.
Once you have the leases, permits will be slow-walked. 9000 such permits were issued early in 2021 by the federal government. You heard Jenn Piss-socky rant about them. Then the federal government actively supported a lawsuit against 4000 of the permits. Only in America!
But let’s say your company gets leases and permits. They cost more than they need to, but you’re ready to start drilling. Oh, oops. The federal or state governments have not granted you access and right of way yet. Or if they have, the considerations are so restrictive as to prohibit you from being able to put your rigs to work effectively.
While this is going on, in an industry already reeling under $BILLIONS in all manner of compliance with thousands of regulations, you now have to analyze your “carbon footprint” and submit annual reports to Mommy Government.
And, of course, there will be royalties paid to the government for the oil extracted.
But wait! There's More!
While the government is busy making your life difficult, the investment firms benefiting from your demise, the biggest in the world, are also working against you and openly screwing their private investors and retirement account holders. As I said, they are in bed with those bastard political whores. They have gained a huge chokehold on oil and gas. And they are intentionally sabotaging the industry in favor of the one the government (that's you) WILL PAY FOR from soup to nuts.
The investment banks place further restrictions of their own on your company when you seek investment. You’ll be required to put people who are LBGQblah, blah, blah on your boards. Or they might demand a BLM member, or a Vice President of Human Happiness. These empty suits are to have a vote on the board! It won’t take a rocket scientist to know how these people will thwart your own oil company’s board and will actually work for the investment firm’s interest and will report to THEM.
The government cronies will require the company seeking investment to eagerly embrace the carbon footprint compliance and look for ways to make it even more onerous. All the while they are supposed to be making money for their account holders. But Blackrock announced this year that their account holders should expect smaller returns for up to ten years while they work out their plan with the political whores. They are very open about it. It's all for a greener environment! [eye roll]
How to fix this and other energy issues are in the next post.