A vote during the ExxonMobil 2024 shareholder meeting Wednesday will pit those who think an oil company should act according to the concerns of climate activists against those who think companies should act to produce the best investment returns for their shareholders.
It is the latest front in the growing fight between proponents and opponents of environmental, social and governance (ESG), as the movement struggles to maintain the clout to effect social change through investments.
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In the movie The Perfect Storm, George Clooney and Mark Wahlberg are among the crew of a boat off the Northeast coast that is caught in the convergence of multiple powerful storms. The combination of tempests ultimately takes down the craft and its crew. We should all hope one of our nation’s most vital industries doesn’t succumb in similar fashion as it is caught in a perfect storm of ideological rigidity, bureaucratic arrogance, and regulatory overreach.
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A few weeks ago, Exxon announced that it was banning the display of Pride and BLM flags at its headquarters in Houston. There was a ripple of unhappiness, but nothing was burned down, the media attention was muted, and the world went about its business as before.
Across the country, school board elections are tossing out woke ideologues and partisans of critical race theory and replacing what amounts to gay pornography in the curriculum with more wholesome fare. The Biden Administration keeps running into roadblocks, most recently a judicial order halting its efforts to rescind Title 42, a Trump-era emergency order that turned away would-be immigrants at the U.S.-Mexico border. A few days ago, Biden’s absurd Disinformation Governance Board was shuttered and its pathetic director, Nina Jankowicz, sucked back into the memory hole whence she came.
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