The Collapse of the UN Net-Zero Alliance

Just a few years ago, ESG was all the rage in the banking and investing community as globalist governments in the western world focused on a failing attempt to subsidize an energy transition into reality. The strategy was to try to strangle fossil fuel industries by denying them funding for major projects, with major ESG-focused institutional investors like BlackRock and State Street, and big banks like J.P. Morgan and Goldman Sachs leveraging their control of trillions of dollars in capital to lead the cause.

But a funny thing happened on the way to a green Nirvana: It turned out that the chosen rent-seeking industries – wind, solar, and electric vehicles – are not the nifty plug-and-play solutions they had been cracked up to be. Even worse, the advancement of new technologies and increased mining of cryptocurrencies created enormous new demand for electricity, with the result being heavy demand for finding new sources of fossil fuels to keep the grid running and people moving around in reliable cars that they actually want to own.