How Fossil Fuel Divestment Creates Higher Oil & Gas Stock Prices
The silly fools behind the “divest from fossil energy companies” movement are doing the exact opposite of what they had hoped to do. The diverstors are trying to force publicly traded fossil energy companies out of business by bullying investors to divest (refuse to own) stock in fossil fuel companies. The theory is that if enough investors refuse to buy the stock, the stock price will crash and burn, and the company will be forced out of business. But the EXACT OPPOSITE is happening!
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In his first two days in office, Joe Biden declared war on the oil and gas industry. One of the first things he did was to revive an interagency working group on the “social cost” of greenhouse gas emissions and directed the issuance of an “interim” cost (see
In April of this year, Tennessee Gas Pipeline’s (TGP) plan to flow more Marcellus gas to Westchester County, NY, and to New York City, called the East 300 Upgrade Project, took a giant leap forward when the Federal Energy Regulatory Commission (FERC) issued permits that allow TGP to upgrade two existing compressor stations (in PA), and build a brand new compressor station in West Milford (Passaic County, NJ), just across the border and not far from Westchester County (see
The leftist members of the Allegheny, PA County Council have proven just how leftward they have lurched (and how unhinged they have become). In July, the Council voted to overturn the veto of a ban on drilling for natural gas under (never on top of) county parks (see
As things wrap up at the latest annual confab of leftist tyrants and wackos who seek to control the world by using the scare tactics of global warming, also known as the UN’s 2022 Climate Change Conference (COP 27), a group of countries calling itself energy importers and exporters (includes the U.S. as represented by the Bidenistas) issued a “joint declaration” that says, pretty much, they all hate fossil fuels and intend to stop using them in the next 20-30 years.
It seems Africans have had about enough of the self-righteous preaching from the likes of radical leftist groups like Extinction Rebellion, a group that wants to deny African countries the right to extract and use their own abundant fossil energy supplies (in particular, natural gas). The African Energy Chamber (AEC), along with the president of the African Development Bank, pushed back against the “colonizers” who want to deny Africa the right to use its own resources. The right of African countries to extract and use natural gas has become a flashpoint issue at the UN’s 2022 Climate Change Conference (COP 27), which is happening right now in Egypt.
The Bidenistas waited until the UN’s 2022 Climate Change Conference, called COP 27, was up and running (in Egypt) before *going to Egypt* to announce their latest attack on the oil and natural gas industry. At COP27 in Sharm el Sheikh, Egypt, the U.S. Environmental Protection Agency (EPA) announced it is “strengthening its proposed standards to cut methane and other harmful air pollution” in the oil and gas industry. In other words, yet another massive power grab in attempting to regulate oil and gas at the federal level, instead allowing O&G to be regulated at the Constitutionally-designated state level.
Yeah, well, that didn’t take long, did it? Pennsylvania Governor-elect Josh Shapiro, just a few days after he won the election, has vowed to further restrict fracking with huge new setback regulations. He’s also promising new regulations for gathering pipelines. In other words, he’s about to screw over the Marcellus industry and pretty much stop new drilling in the state. Still glad you voted for Shapiro?
Environmentalist wackos from around the world are meeting in Egypt for the UN’s 2022 Climate Change Conference, called COP 27. Egyptian authorities have confirmed that some 400 private jets have landed (so far) for the event. So much for leading by example, eh? They’re so very concerned about surplus CO2 in the atmosphere, but they can’t be bothered to actually practice what they preach. Anywho…Some of the jet setters to arrive and talk at COP27 was a group of Congressional Republicans, there to promote the use of fossil fuels! Yes, Daniel went into the lion’s den of crazy environmentalist wackos.
In our opinion, Pennsylvania voters made a major mistake in electing Attorney General Josh Shaprio as their next governor (see
EPA Administrator Michael Regan, who President Joe Biden picked to lead the agency in early 2021, has been every bit the radical we feared he would be. An investigation by Fox News Digital found Regan has held secret meetings with the leaders of Big Green groups–including the Natural Resources Defense Council (NRDC) and League of Conservation Voters (LCV)–groups that actively seek to destroy the U.S. fossil fuel industry and are funded with foreign “dark money.” If this were a different administration and Donald Trump’s EPA was found to be having secret meetings anti-renewable energy organizations, it would be plastered on the front page of every newspaper in the land–for weeks. But Regan meeting with and colluding with these foreign-backed groups? Not a peep.
The Catholic nuns of Lancaster County’s Adorers of the Blood of Christ are still, all these years later, trying to shake down Williams for more money because of a pipeline that runs underneath a cornfield owned by the sisters (hence our nickname for them). Using lawyers from Big Green groups, the nuns argued their “religious beliefs” were offended by the pipeline because it flows a nasty, filthy fossil fuel that causes global warming. We’ve lost track of how many lawsuits the sisters have filed, using OPM (other people’s money). The most recent lawsuit, filed in the Philadelphia-based U.S. Third Circuit Court of Appeals, was just shot down by the court.