When President Joe Biden isn't begging OPEC to produce more oil to bring prices down and save his political bacon, when he isn't endorsing gimmicks to encourage more gasoline use with a gas tax holiday, his administration is still out there paying lip service to the idea that climate change is an…
When President Joe Biden isn't begging OPEC to produce more oil to bring prices down and save his political bacon, when he isn't endorsing gimmicks to encourage more gasoline use with a gas tax holiday, his administration is still out there paying lip service to the idea that climate change is an imminent threat to human survival.
The SEC is debating the extent to which it can compel companies to disclose details about how much energy they buy and how they handle climate risks. Such self-reported disclosures to investors have already become commonplace in business, and adding government-mandated ESG disclosure rules is a big goal for the administration. If any of this silliness comes to pass, the best thing every company involved could do is simply tell the truth. Call Biden's bluff.
In an ideal world, every business would be allowed to give such a simple answer, and every business would indeed give it. In nearly all cases, it has the benefit of being true. Those companies that want to adopt the trappings of environmental consciousness know, in nearly all cases, that their minimal commitment affects nothing.
As you read this, some kind of fossil fuel is almost certainly powering your computer. It's heating your home, fueling your car, cooking your meals. It will fuel your next plane trip. This will be the case until nuclear fusion is widely available because other renewable sources of energy are simply not reliable. That day is coming, but it isn't here.
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