patrick.net

Republican state officials are readying plans to punish woke banks which push anti-fossil fuel policies and adhere to so-called environmental, social and governance (ESG) standards.

West Virginia announced last week it would bar five major financial institutions, including BlackRock, Goldman Sachs and JPMorgan, from entering into banking contracts with the state treasurer's office or any state agency. Each of the five corporations had committed to policies limiting commercial engagement with the fossil fuel industry, which paid a whopping $769 million in taxes to West Virginia's state government.

"We're not going to pay for our own destruction, we're not going to subsidize that," West Virginia State Treasurer Riley Moore told FOX Business during an interview. "They have weaponized our tax dollars against the very people and industry that have generated them to begin with. That is why we're pushing back against this ESG movement."

Sounds good to me.

Why don't the States put a tax on these firms of...say...2% of assets held by the firms in custody for the State's citizens.

Patrick says

Republican state officials are readying plans to punish woke banks which push anti-fossil fuel policies and adhere to so-called environmental, social and governance (ESG) standards.

West Virginia announced last week it would bar five major financial institutions, including BlackRock, Goldman Sachs and JPMorgan, from entering into banking contracts with the state treasurer's office or any state agency. Each of the five corporations had committed to policies limiting commercial engagement with the fossil fuel industry, which paid a whopping $769 million in taxes to West Virginia's state government.

"We're not going to pay for our own destruction, we're not going to subsidize that," West Virginia State Treasurer Riley Moore told FOX Business during an interview. "They have weaponized our tax dollars against the very people and industry that have generated them to begin with. That is why we're pushing back against this ESG movement."


It's just talk.

I've heard about this years ago. The banks intend to refuse to support industries like oil and gas and force the world to move to "renewables" - the problem is that it's physically impossible at this point. They don't understand the science of it.

The banks also don't care if they lose money on it either, when they lose money, they simply get bailed out by the taxpayers since they are really the government. The Federal Reserve has put the United States alone into 30 TRILLION dollars of debt - how is this possible, when the Federal Reserve doesn't have 30 trillion dollars and never did? What's THEIR credit? It's the slavery of all of us.

https://patriotpost.us/articles/90621

Here Comes the ESG Backlash
BlackRock is a woke force to be reckoned with in asset management, but others are growing tired of the firm’s heavy-handedness.

ESG, which is wokespeak for Environmental, Social, and Governance responsibility, is also the Left’s weapon for getting corporate America to bend to its socialist will without all those pesky voters and legislators getting in the way. It goes beyond virtue signaling, because it strategically uses muscle to force corporations to engage in woke practices such as indoctrinating employees in critical race theory and promoting climate change ideology.

This bullshit reminds me of a mutual fund which was all "sin" businesses.
It contained tobacco, gambling, guns, liquor, beer, etc. stocks.
I don't know how it's doing or what its symbol is.

ESG is bullshit, but it's being directly funded by governments and the banking system.

If a battery could be developed that would last 100 years and be fully recycled, then it would be possible to do this stuff. Throw some solar panels on your roof, have a battery bank, you can go off grid - but they don't work toward that, they want utilities controlling this, so instead they buy FARMLAND and cover THAT with solar panels.

Just an enormous misuse of mind power and money.

You could also put solar panels on your roof and run current through water and make H2.
Collect the H2 and use it to run your fuel cell car.
Tesla=toxic electronic waste
Fuel cell=H2O out the exhaust pipe.

clambo says

Collect the H2 and use it to run your fuel cell car.

50% efficient, and you lose power by compressing the gas, it works out to be like 35% efficiency.

clambo says

Fuel cell=H2O out the exhaust pipe.

NOT with an internal combustion engine. It doesn't just emit water, it also produces nitrous oxide

Still, I fart and burp, is this killing our environment? The levels may be acceptable, but energy storage with hydrogen, it's not efficient.

richwicks says

NOT with an internal combustion engine. It doesn't just emit water, it also produces nitrous oxide

Yep. if your engine intakes ambient air to burn the hydrogen, the heat will cause the nitrogen to form into NOX. However, a catalytic converter will fix that issue. But I believe clambo was referring to a fuel cell anyway, so he is right about the H2O as the exhaust.

HeadSet says

richwicks says

NOT with an internal combustion engine. It doesn't just emit water, it also produces nitrous oxide

Yep. if your engine intakes ambient air to burn the hydrogen, the heat will cause the nitrogen to form into NOX. However, a catalytic converter will fix that issue. But I believe clambo was referring to a fuel cell anyway, so he is right about the H2O as the exhaust.

Well, even so, hydrogen sucks as energy storage. We're better off burning natural gas.

I was a green lefty 30 years ago, but I also know the science. We CAN convert to a green energy world, if we kill off several billion people - but if we kill off several billion people, it will retard development, but at the same time, what is left to develop? I cannot say and nobody can, but in MY field, we are hitting a dead end. We can't make chips faster or better and even if we can, nobody cares about it - it's fast enough.

Shit honestly what we had 10 years ago was "good enough". Do you really need or want a device that can carry around more books than you can read in a lifetime? We were there 20 years ago. You can buy such a storage device at a 7/11 now for a few bucks.

Today, we are just reducing power requirements. You literally have in your smartphone a device capable of doing nuclear bomb simulation. I'm not kidding about this. Your shitty smart phone is more powerful than the mainframe I used for ALL my schoolwork, which 2000 students shared.

We all have terrible power, but most of us don't know how to access it.

I know how to use it though, but then if falls to marketing. I hate marketing...

richwicks says

clambo says

Collect the H2 and use it to run your fuel cell car.

50% efficient, and you lose power by compressing the gas, it works out to be like 35% efficiency.

Still, you have to give hydrolysis points for simplicity and portability.

Patrick says

richwicks says

clambo says

Collect the H2 and use it to run your fuel cell car.

50% efficient, and you lose power by compressing the gas, it works out to be like 35% efficiency.

Still, you have to give hydrolysis points for simplicity and portability.

It's very dangerous to store hydrogen. It's a highly volatile gas, but at least if you puncture the tank it floats - it's not a practical energy storage system.

Ages ago we used to have synthetic gas, it was hydrogen mixed with carbon monoxide - this is why we have the image of unhappy housewives killing themselves by putting their heads in ovens but even that wasn't created by breaking apart water with electricity.

This is competing against batteries, and although batteries suck, hydrogen is worse. Modern cars that run on hydrogen get their hydrogen through "steam reformation":

https://en.wikipedia.org/wiki/Steam_reforming

It's just stupidity, they would be better off just burning natural gas but in Japan there's a push to use hydrogen in fuel cells. This whole green energy idea crap, it's kind of maddening once you get into it. It's possible to power your HOME on it off grid, but for a vehicle - drop about 2000 lbs from it, and then its reasonable. Your car should weight about what your do or less - and this is possible, but most people would regard such a vehicle as unsafe, because an accident - that will kill you. If the top speed of cars was 30 MPH, it would be practical.

Yeah, Freezing hydrogen requires heavy equipment. Once you factor in the weight of the tanks/system keeping hydrogen frozen, it's not so efficient anymore, which is why it's reserved for upper stages of rockets as a fuel. H2 really wants to bond, so almost any tube or vessel you store it in gets brittle and leaky FAST. Long distance probes don't use H2, they use monopropelant despite it's lower efficency and thus dV.

ZipperTits says

What about banks that do shit to individuals like what happened to the Pillow Guy?

same banks

https://slaynews.com/news/louisiana-treasury-funds-blackrock-esg-investing-threatens-economic-freedom-individual-liberty/

i left Chase for those reasons too, moved to local bank.

cisTits says

What about banks that do shit to individuals like what happened to the Pillow Guy?

What did banks do to the pillow guy?

richwicks says

ESG is bullshit, but it's being directly funded by governments and the banking system.

If a battery could be developed that would last 100 years and be fully recycled, then it would be possible to do this stuff. Throw some solar panels on your roof, have a battery bank, you can go off grid - but they don't work toward that, they want utilities controlling this, so instead they buy FARMLAND and cover THAT with solar panels.

Just an enormous misuse of mind power and money.

G.R.E.E.D.

AmericanKulak says

Yeah, Freezing hydrogen requires heavy equipment.

I was about to write to gloat at you being incorrect that hydrogen can be frozen into a solid, but I'm incorrect. Helium can't be. So, there's a science fact I learned today.

All the KommieKunt tag lines and Globalist fraud schemes are just templates for sociopaths and con artists. Beware the snake oil environmentalists or equity turds fleecing you up for investments and dough.

Bankster types are just writ large.

https://www.theblaze.com/op-ed/horowitz-desantis-state-compact-against-esg-is-the-blueprint-to-fighting-federal-corporate-fascism

DeSantis’ state compact against ESG is the blueprint to fighting federal-corporate fascism

While we all slept for a number of years past, the federal government has worked with global governments and corporations to remake our society, economy, culture, laws, and policy. More recently, these governments and corporations have built an enforcement mechanism against anyone on the wrong side of “total state” values. It’s a trap of human life, liberty, and property that is seemingly incorrigible save one escape hatch that still remains in Madison’s original design. Now Florida Governor Ron DeSantis is utilizing that escape hatch and plowing a path for using it on every other important issue of our time.

In announcing a 19-state alliance against the environmental, social, and corporate governance jihad on American values and liberties, DeSantis has actually done something more significant and impactful than potentially running for president. Many of us believe the federal government is irremediably broken. But what do you do when your own government turns on you and violates the essence of the social compact on every issue that matters pertaining to the core tenets of establishing justice, ensuring domestic tranquility, providing for the common defense, promoting the general welfare, and securing the blessings of liberty?

You push back using the doctrine of the lowest magistrate through a coalition of state governments. On Thursday, DeSantis announced that he had formed an alliance with the governors of Alabama, Alaska, Arkansas, Georgia, Idaho, Iowa, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Oklahoma, South Dakota, Tennessee, Vermont, West Virginia, and Wyoming to take a number of actions to interpose against Biden’s ESG agenda. Florida’s legislation, which presumably would be echoed in other states, per the joint letter with the other 18 governors, includes the following objectives detailed in the governor’s one-pager:

Prohibiting big banks, trusts, and other financial institutions from discriminating against customers for their religious, political, or social beliefs — including their support for securing the border, owning a firearm, and increasing our energy independence.
Prohibiting the financial sector from considering so-called “social credit scores” in banking and lending practices that aim to prevent Floridians from obtaining loans, lines of credit, and bank accounts.
Prohibiting banks that engage in corporate activism from holding government funds as a qualified public depository.
Prohibiting the use of ESG in all investment decisions at the state and local levels, ensuring that fund managers only consider financial factors that maximize the highest rate of return.
Prohibiting all state and local entities, including direct support organizations, from considering, giving preference to, or requesting information about ESG as part of the procurement and contracting process.
Prohibiting the use of ESG factors by state and local governments when issuing bonds, including a contract prohibition on rating agencies whose ESG ratings negatively impact the issuer’s bond ratings.
Directing the attorney general and commissioner of financial regulation to enforce these provisions to the fullest extent of the law.
Taken together, these measures would effectively create a constitutional sanctuary for human rights and the First Amendment in a large swath of the country. But more importantly, this cross-state cooperation to interpose against federal-corporate tyranny is the blueprint for freedom on many other issues.