Saturday, May 7, 2022

Utah State Treasurer Says environmental, social and governance standards (ESGs) ‘Greatest Threat to Our Freedoms’

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"The political agenda behind ESG rules is often anti-freedom, anti-America and opposed to the free market, Oaks said. The consequences have been catastrophic, resulting in high gas prices and inflation: “There are a lot of projects in the United States — profitable projects in the oil and gas industry — that are not being funded because of ESGs. And that's preventing the market” from rebalancing. Oaks called attention to how ESG is holding the energy industry hostage by withholding capital and even said that “[t]here is no free-market capitalism today in the United States.” The reason? “There’s just not enough money that is being allowed to go” to oil and gas industry, Oaks said."

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