Biden’s Plans for Infrastructure Ring Hollow, Thanks to New NEPA Rules
President Biden is tightening up the environmental reviews for major projects—thus weakening the infrastructure act he appears to be so proud of. The White House Council of Environmental Quality has just issued new rules for assessing major projects under the 1969 NEPA (National Environmental Policy Act). The rules end President Trump’s relaxation of regulation and…
Banker Wakes Up the ‘Woke’ on Climate Change. He May Lose His Job.
“Climate change is not a financial risk that we should worry about,” said Stuart Kirk, a responsible-investing executive of HBSC, one of the world’s largest banking and investment houses last week. He spoke at the “Moral Money” conference in London sponsored by the Financial Times. According to British sources, he was suspended from his job…
Are You Paying to Save a Forest that Won’t Be Cut Down Anyway?
This blog has long raised questions about carbon offsets. And now the New York Times is ruminating over them, too—in particular, over the amounts of money that airline passengers pay to “offset” their use of jet fuel. Some airlines (such as Air Canada and KLM) allow you to get rid of travel guilt by paying…
Elon Musk Disputes Tesla’s Removal from “ESG” Index
Elon Musk made news this past week (again) by castigating the S&P Index for removing Tesla from its index of ESG-approved stocks. “ESG is a scam,” he tweeted. “It has been weaponized by phony social justice warriors.” ESG refers to whether a company is sufficiently active in the areas of “environmental, social, and governance.” Here’s…