Via Ronald Stein
Energy & Infrastructure Ambassador, Irvine, California
Environmental, Social and Governance (ESG) factors climbing the agenda in the banking industry to divest capital into fossil fuels was the desire to reach such a world in the 1800s, when the world was previously “decarbonized”.
Back in the 1800s, we didn’t have coal or natural gas power plants, and we hadn’t discovered crude oil as something that could be made into usable products. Life is hard and dirty, and most people have never traveled 100-200 miles from where they were born, and their life expectancy is very short.
Today, there is a lost fact that main use of crude oil NOT to generate electricity, but to produce the derivatives and fuels that are components of everything needed for economies and lifestyles to survive and prosper. Energy realism demands that legislators, policymakers and media exhibit a pervasive lack of understanding about the use of crude oil to understand the staggering scale of the decarbonization movement. .
The efforts to stop using crude oil could be the biggest threat to civilization, but not climate change, leading to billions of deaths from disease, malnutrition, and weather-related deaths.
In the worldwide frenzy to achieve the goal of “net zero” emissions, over the past 5-10 years, “ESG” – prominent in Environmental Social Governance – has gone from a written word turned off that almost no one knows or cares about, into a top priority of financial regulators, markets and institutions around the world. Today, ESG’s divestment efforts are being applied to all three fossil fuels: coal, natural gas and crude oil.
Net-Aero Banking Alliance, developed with the support of the United Nations, currently includes seven of the largest and most influential banks in the United States, including BOA, Citi, JP Morgan Chase, Morgan Stanley, Goldman Sachs, Wells Fargo and Amalgamated Banking.
Allowing banks to band together to reshape the economy to suit the preferences of other banks and financial institutions is a very dangerous precedent. The American people never voted to give banks such control over our country.
The domino effects from studying the crude oil supply chain, are supply shortages and skyrocketing prices for thousands of products that support economies around the world. Petroleum-based products form the basis of the entire medical industry, all branches of the military, airports, electronics, communications, merchant ships, container and cruise ships, as well as plastics. Roads for roads and fertilizers to help feed the world. Fossil fuel shortages encourage inflation because it causes severe damage to energy infrastructure and raw materials.
Climate alarms seem endless and if history is any guide, ESGers admitting their mistakes and rushing to fix the damage is not top of the list of possible responses. happen. Thus, with the divestment in crude oil infrastructure, we can expect shortages of thousands of petroleum products and lower electricity prices, unreliable supply. to meet the needs of society.
Oil products reduce infant mortality, prolong life to more than 80 years, and allow world population from 1 to 8 billion in less than two centuries, is now required to provide food, health care and communications to sustain and grow that population. How can world leaders consciously support the collapse of crude oil that will send us back to the 1800s when life was hard, dirty, and short?
Today, with all products produced from petroleum, according to the United Nations, the global population aged 100 and over is expected to grow from more than 500,000 in 2021, to more than 2 billion. people by 2050.
We already know that poorer developing countries do not currently use 20order century products are produced from crude oil, which is experiencing about 11,000,000 children die every year due to the unavailability of fossil fuel products used in rich countries.
More than 70% of child deaths in developing countries are due to six causes: diarrhea, malaria, neonatal infection, pneumonia, preterm birth or lack of oxygen at birth. About 29,000 children under 5 – 21 years old every minute – die every day, mainly from preventable causes.
Without an alternative to these crude-oil derivatives, the standard of living of people in healthy and wealthy countries today will drop dramatically as the world migrates back to its former glory. 1900, and any attempt to develop colonies would come to an end.
“Net zero” will take us back to the time before 1900 when the world had not discovered the benefits to society from 3 fossil fuels. The net-zero policy is causing ever more severe, socioeconomic and environmental unsustainable damage, with some advanced economies experiencing frequent power outages and escalating electricity prices, leading to class-based power poverty, winter deaths, social and political repulsions and ever more violent confrontations.
Prior to the 1900s, we had NO products that were used in the medical industry or any other 6,000 petroleum products and petroleum products. By stopping oil production and extraction, the supply chain for refineries will be cut off and refineries will not be needed as they will not have a supply of crude oil to produce derivatives and fuels. Inland transportation data required by the world’s heavy and long-range aviation infrastructure, merchant ships, cruise ships, and militaries.
The divestment is affecting jet fuel supply shortages as reported by the Energy Information Administration (EIA), as Less production and more demand have reduced US jet fuel inventories since 2014 for 23,000 commercial aircraft and 20,000 private jets.
The IEA report indicates that the growth in demand for plastics and fertilizers is outpacing the growth in demand for steel, aluminum and cement. Demand for petrochemicals has nearly doubled since 2000, and the US and Europe use 20 times more plastics and fertilizers per capita than India, Indonesia and other developing countries. A decarbonized world without the three fossil fuels of coal, natural gas and crude oil CANNOT produce any of those petrochemicals from wind turbines or solar panels.
As Environmental, Social and Governance (ESG) divestment process into fossil fuels, the brief memories of the petrochemical golden geese’s contributions to society are leading the world into the same era of Extreme Shortage Guarantee (ESG) as we had in the decarbonized world in the 1800s!
Ronald Stein, Production Specialist
Energy & Infrastructure Ambassador
http://www.energyliteracy.net/
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