The deafening silence and lack of outrage regarding the recent events in Iran are not only obscene and immoral, but it makes them all complicit in the systematic murder of Iranian citizens protesting the oppression of their Ayatollahs regime. One thousand four hundred...
States are Fighting Back Against The Woke Wolves of Wall Street
In Joe Biden’s America, sky-high gas prices are not a problem as they are, in fact, a feature of his radical energy policies. He admitted as much when he said crippling gas prices were part of an “incredible transition“ that will make the world “less reliant on fossil fuels when this is over.”
In just 18 months, President Biden has transformed America from the world’s top oil and gas producer into a nation once again dependent on other countries. He rejoined the Paris Climate Accord, bowed to environmental extremists by canceling the Keystone Pipeline, and shut down oil and gas lease sales from our vast public lands and waters. It should come as no surprise that gasoline prices have nearly doubled since the day President Biden took office.
But Democrats in Washington are not the only ones waging war on American energy. Liberals in the private sector have proven that they are all too willing to play along. On Wall Street, major investment firms are rating companies based on their adherence to left-wing environmental, social, and governance (ESG) values. Like the social credit scores issued by the Chinese Communist Party, a low ESG score can be devastating, making it virtually impossible for a company to raise capital.
In effect, Wall Street liberals are succeeding where DC liberals have failed: shutting down entire industries that offend their radical values. It is time that we stop underwriting these efforts with taxpayer dollars.
Many states have had enough and are beginning to fight back against the Woke Wolves of Wall Street. West Virginia recently announced that Goldman Sachs, JP Morgan, Wells Fargo, Morgan Stanley, and BlackRock will be banned from doing business with the state as a result of the companies’ pernicious ESG policies that punish the coal industry. All five companies had previously announced that they were drastically cutting investments in new coal projects.
Other states are also rising to the occasion. Already, the New York Times reports that Louisiana and Arkansas have joined West Virginia in pulling more than $700 million out of BlackRock. State treasurers in Utah and Indiana are demanding an end to the insidious practice of ESG. And state attorneys general, led by Mark Brnovich of Arizona and Doug Peterson of Nebraska, are pursuing Wall Street firms for possible antitrust violations and the illegal restraint of trade or commerce. This is a perfect description of the tactics inherent to ESG.
The fact is, the left’s war on energy is both hypocritical and destructive. It’s hypocritical because it’s not really about saving the environment – otherwise, these massive Wall Street financiers wouldn’t be investing billions of dollars in China, the world’s largest polluter. And it’s extraordinarily destructive to American workers, families, and businesses – all of whom depend on affordable, reliable energy to power homes, vehicles, and our entire economy.
Republicans have long been castigated as the party of big business and the country club, but the left’s obsession with offshoring energy jobs hurts America’s working class the hardest. Our federal, state, and local governments should not be bankrolling businesses that hurt America’s backbone.
States with large employee pension funds invested in the stock market would be well advised to reign in massive investment firms that are pushing a radical ESG agenda. State and local governments should entrust their money to managers that don’t work against their citizens’ best interests. States should also pass model legislation developed by the American Legislative Exchange Council requiring government pension fund managers to vote the state’s shares, rather than delegating that authority to Woke Wolf of Wall Street firms.
Every state in the union should follow West Virginia’s example and give Wall Street a simple choice: either serve the interests of our citizens, or take your business elsewhere. Mike Pence, the former United States Vice President, is right in his desire to battle the woke promoters of ESG on Wall Street.
Disclaimer: The information contained in this website is for educational, general information, and entertainment purposes only and is never intended to constitute medical or legal advice or to replace the personalized care of a primary care practitioner or legal expert.
While we endeavor to keep this information up to date and correct, the information provided by America Out Loud, its website(s), and any properties (including its radio shows and podcasts) makes no representations, or warranties of any kind, expressed, or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to its website(s) or the information, products, services or related graphics and images contained on the website(s) for any purpose.
The opinions expressed on the website(s), and the opinions expressed on the radio shows and podcasts, are the opinions of the show hosts and do not necessarily represent the opinions, beliefs, or policies of anyone or any entity we may endorse. Any reliance you place on such information is therefore strictly at your own risk.
At no time, nor in any event, will we be liable for any loss, or damage, including without limitation, indirect or consequential loss of data or profits arising out of, in an association of, or connection with the use of this website.
Through this website, users can link to other websites that may be listed. Those websites are not under the control of America Out Loud or its brands. We have no control over the nature, content, or availability of those sites. America Out Loud has no control over what the sites do with the information they collect. The inclusion of any links does not necessarily imply a recommendation, nor does it endorse the views expressed with or by them.
Every effort is made to keep the website up and running smoothly. However, America Out Loud takes no responsibility for, nor are we, and will not be liable for being temporarily unavailable due to technical difficulties beyond our control. America Out Loud does not sell, trade, nor market email addresses or other personal data.