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And a big part of the issue
is, as you say, Environmental,

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Social and Governance ESG, which was
really a drive to get rid of coal,

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oil and natural gas. See,
the environmental was kind of a big

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e on that. But we've had
a bunch of states that have said,

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hey, wait a minute, you're
listening to Carrie Lutz's Financial Survival Network,

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00:00:19,079 --> 00:00:24,480
where you get valuable information you just
can't find anywhere else to thrive in today's

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00:00:24,480 --> 00:00:30,239
trying times. You need the Financial
Survival Network now more than ever. Go

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00:00:30,320 --> 00:00:36,679
to Financial Survivalnetwork dot com and get
your free newsletter and gift. Financial Survival

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00:00:36,719 --> 00:00:46,159
Network now more than ever. And
welcome you are and listening to and watching

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the Financial Survival Network. I'm your
host, Carrie Lutz. Well ESG is

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turning out to not be good business
for business. Who would have ever thought

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that could be possible? Certainly not
yours truly, But my next guest knew

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it all along, Steve Gorm.
It's great to have you back. If

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you've got a question for Steve myself, bet ESG or anything else, shoot

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me an email kl at Kerrie Lutz
dot com. Steve, great to have

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you back. So what's going on
here with this ESG stuff. It looks

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like the big investment banks finding out
this is not a profit boom. The

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only company making money off of this
is Tesla because they're selling their regulatory AX

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credits and we'll see how much that
gravy train lasts for right, they have

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to a big tex credits sessilat.
Yeah. So we've had the Black Brock

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and Vanguard, JP Morgan, Pimcole
other Wall Street firms that are pulling back

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from the climate change pledges. Several
of them withdrew from a group called Climate

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Action one hundred in just this last
month. And a big part of the

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issue is, as you say,
Environmental, Social and Governance ESG, which

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was really a drive to get rid
of coal, oil and natural gas.

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See the environmental was kind of a
big e on that. But we've had

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a bunch of states that have said, hey, wait a minute, Texas,

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West, Virginia, Florida. I've
all said things like, well,

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we're not going to use any of
our pension funds on your funds, our

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pension money if you keep pushing the
CESG thing. So they pull back from

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that. And then the other thing
that has happened is that the renewable energy

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stocks are in kind of a tail
spin. There's an index called the Renix

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Index r e NIXX, which is
a list of ropefully the top thirty renewable

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energy companies in the world. It's
a stock fund index, been around about

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twenty five thirty years. Well,
that has been dropping. It's doun about

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fifty percent in the last three years, the Renics index. And so we

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have many of these renewable companies that
are just not doing well. And so

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I think the big financial firms are
going, you know, we're kind of

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advising that they pursue these renewables and
it's not working very well. Gee,

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hey, you know, I learned
a long time ago that the only purpose

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of business is to make money,
all right, do it legally, ethically

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and all that good stuff. Now, and when they start with all this

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do gooder stuff and woke stuff and
equality and equity and all that, that's

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when their problems invariably begin. And
why have they not figured this out yet?

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Steve Well, I think this tremendous
public pressure. And we have people

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like Google and Apple and Amazon all
talking about how green they are and how

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they're getting to green electricity for their
data centers. A lot of other things.

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Those things cost money, though they
end up purchasing electricity at a higher

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rate, which impacts their stockholders and
shareholders. But it is it is in

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big park to build their green image
with the public. And as long as

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the public green thinks that green companies
are adding something or doing something, they're

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going to continue to do this,
all right. So you know, we've

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got places like Exxon where these folks
have gotten in place on the board.

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They're trying to get them to do
all this stuff that they don't want to

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do. And is that going to
change too, do you think? Well,

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the oil companies are under tremendous pressure. It's not only on the board,

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but many of them are being sued
personally liat The suits are trying to

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make the board members personally liable for
their position on that human caused climate change

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is not a problem where their past
positions. So many of the oil companies

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have caved into this. The American
Petroleum Institute thanks you out of a carbon

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tax. It's really really very sad. Our world runs on hydrocarbon energy,

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coal, oil and natural gas,
and everything from our clothes to our smartphones

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to the vehicles we use. Not
only how they're manufactured, but how they

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drive, to the endless rows of
plastic bottles in our supermarkets, to our

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medicines, which come from hydrocarbons.
Our medical supplies come from hydrocarbons at all.

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About half the world use a synthetic
fertilizer for our food, and much

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of the world uses tractors using diesel
as well. So our world runs on

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this stuff and we're not going to
be able to switch from it quickly.

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Net zero is just not going to
happen. Okay, So, but you

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know, these plastic bottles and all
this extra waste that we have, like

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fast food place, I mean,
shouldn't we really be looking to get rid

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of that and minimize it. But
we do have a problem with plastic waste

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in the oceans. It is often
overstated, but there's about one hundred million

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tons of plastic it's estimated in the
oceans, and we're adding about ten million

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tons a year. Almost none of
that comes from the United States or Europe.

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It's mostly from developing nations far east. That sort of thing. So

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banning straws in San Francisco isn't going
to have a real big effects. But

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we do need biodegradable plastics. But
that is a real problem to solve,

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unlike the problem of trying to reduce
carbon dioxide emissions to stop global warming.

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That is a not a problem and
be probably not possible, all right,

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So yeah, I mean I see
it like these is the water bottles.

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It's like, there's really not a
br ar kit to recycle plastic, right,

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I mean, no, there isn't
a lot of it goes in the

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landfills. I'm a tap water guy, I'm not don't give me this bottle

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full of water. And the people
who are complaining are the ones drinking the

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bottled water, the periet and the
the van and all that good stuff.

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Yeah, but seriously, so should
we be switching back to glass, Well,

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I don't think so. Really.
I think that the key is biodegradable

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plastics. Things that break out in
sunlight. You know, they might have

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a problem where you can't leave a
jug of milk out in the sun.

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That wouldn't work too well. But
but I think that's what we need.

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Those are more expensive, though,
but the industry is working at it.

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There's some other big problems though,
too. One is discharge of wastewater.

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About eighty percent of the world's wastewater
is discharged untreated into rivers, lakes,

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and streams. Seven years or so
ago, the Olympic swimmers in Brazil didn't

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want to swim in the water down
there. Brazil's just building their first water

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treatment plants. That's that again,
is a real problem to solve, not

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a big problem with the US and
Europe as well, in wealthy nations.

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Let's solve that and U pouring all
this money to try and reduce carbon oxide

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emissions. Okay, so yeah,
well I see it all over the world.

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You know, I was doing some
research because I was in Asia recently

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in Yeah Island, and you know, most of the world does not have

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a tapwater that is drinkable audible,
right, you know, much of the

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world. To learn out about about
two billion of the eight billion people do

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not have real good water. I
think, I think the numbers about six

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or seven hundred that don't have access
to clean jab water. But in other

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cases it's not real good. Yeah. Well, for instance, in North

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America or in the Americas, I
think there's four countries where you can drink

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the tap water, not including the
islands in the Caribbean that is Canada,

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the US. I think Chile and
got it. The other country eludes make

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In Asia? Maybe what's that that? Maybe? Yeah? In Asia,

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there's only five countries where you can
drink the tap water Japan, South Korea,

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Singapore, and I don't remember the
other countries. But most of most

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of the other places you've got to
treat the water. They have filters.

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Like my friends in Thailand, they
have a reverse osmosis water filter in their

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condo so they can drink the water. But you know, we shouldn't we

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be thinking about drinking water tap water, making that pure. Wouldn't that make

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a bigger difference than anything else.
These those are people are trying to do.

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Those are real problems to solve,
and we certainly need to do that.

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Definitely the case. So rather than
again the carbon diox I think,

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did you hear what missus former Secretary
of State and presidential candidate Hillary Clinton has

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called for. You haven't been as
followed up. She called for us to

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track start tracking climate deaths. Oh, if you remember, during COVID nineteen,

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we had a daily indicator. You
could go online and find everyone who

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had a COVID case or a death
in a state and iron countries. Well,

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she wants to start tracking climate deaths
on a daily basis and support a

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policeason insane. Hey, so go
back to the tap water four cokay,

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four countries in the Americas, Canada, US, Costa Rica, and Chile.

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In Asia, Okay, much bigger
population than the Americas. There's only

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seven countries Israel, Saudi Arabia,
Kuwait, United Arab Emirates, Singapore,

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South Korea, and Japan. And
the only other countries well Western Europe most

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of that the water is drinkable there, and then Australia and New Zealand.

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I mean, this seems to be
a lot bigger problem because so much disease

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comes from bad top water. But
in any of that, Yeah, so

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it's a big deal. Why don't
we track deaths by people who get cholera

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and dysentery and all these other diseases
that come from a dirty water. Oh

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yeah, that's the thing. Well, you know, there's there was a

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paper just written by Colin Carlson at
Georgetown University and he said, we've had

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four million climate deaths in the last
twenty years. But if you look,

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if you look down into the paper, he says, di a real disease

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is a reason is one of the
reasons for climate is a climate death,

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or malaria is a climate death.
And even even cardiovascular disease he calls the

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climate deaths. So you know,
if you call any of those things a

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climate disease, you can call anything
a climate disease. Yeah, yeah,

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which, Hey, the diarrhea specifically
comes from from water. We know that,

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so all right, so if it's
climate death. Hey, so I'll

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accept that bad water is climate death. Fix it. That's something we can

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fix a lot easier than anything else. Right, We've proven it. You

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know, when the United States military
sets up a base somewhere, the first

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thing they do is put in a
water purification unit, right, I mean

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this is solvable. Important to problem
with that. You know, your listeners

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might not know why they invented tea
in China about two thousand BC. They

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boil They used to boil their water, and when you boil water, it

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takes in all little things out of
it that make it taste good. So

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then they started adding tea. They
added tea ingredients, and that's supposedly how

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tea was invented early on is because
of boiling the water. Hey. So

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it's perfect example of what you're saying
here, it's like, you know,

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if we're going to really look at
this stuff and really focus in on it,

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then you know, let's let's get
real about it. Where can we

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make the most difference. I think
you spend a billion dollars on water purification

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in India or in Pakistan or wherever, you're going to get a lot more

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bang for your buck than anything else. Right, Well, the whole climate

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movement is a tremendous misallocation of resources. The world is spending about a trillion

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dollars right now on renewables, primarily
wind and solar, some biofuels, when

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all these problems are out there to
be solved, not only water, but

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there's a number of diseases that kill
a million people a year. We're short

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of electricity. We have seven hundred
million people that don't have access to electricity

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and about two billion that have blackouts
and brownouts every other day. So there

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are a number of major problems to
be solved that we need to be putting

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money toward, and not toward trying
to stop the planet from warming out.

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Yeah, well, hey, maybe
sanity is coming. Maybe the bottom line

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being negatively affected by these misguided goals. Maybe that's going to bring some sanity

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here. Huh. We are saying
some size of a green breakdown coming.

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Yeah, all right, all right, Hey, where do we find your

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work? How do we connect with
you on the web? Where do we

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get your books? Yeah, my
latest book, Green Breakdown and Coming Renewable

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Energy Failure. They can go to
my website Steve Gorham g O R E

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H A M dot com. I'll
send them a signed copy. Great book

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talks all about the energy transition.
That's got a lot of great sidebars in

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it, like that scientists in Sweden
wants people to eat human flesh to stop

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global warming. Or the cosmetic surgeon
in California was taking human tissue and running

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his vehicles on it. That's nice. Hey, you know, why are

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they trying to get us to eat
bugs? Steve? One last question?

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What is it? Why do they
like? Why do they think bud protein

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is so wonderful? That's what the
UN says, it's lower carbon dioxide emissions,

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plentiful bugs and no thanks. I'm
not going to go into the bug

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eating business, but you know,
well I won't go into that, but

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it is it is another crazy just
another crazy idea to stop global warming.

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Oh, one more thing, there
was a teacher in Utah that was actually

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feeding insects to her kids in class
as a lesson that they should be eating

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insects and the problems with beef and
global warming. Okay, I like that,

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you know, like you know,
that's where I draw the line.

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Okay, I want to save the
planet, but I'm not eating bugs to

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save the planet, right right,
And and then you know, you get

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well, I don't even want to
get into the whole carnivore versus you know,

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plant based thing. But plant based
uh philosophy seems to be an extension

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of this climate thing, right,
yes it is. Yeah, the UN

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says it something like eighteen percent of
global emissions are from agriculture. And if

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we eat less be if we can
stop that, we have less cattle emitting

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methane from the nose end and the
tail end, we can stop that.

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Okay, Well good, I'm feeling
good about things now. If it were

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only that simple to solve the world's
problems. And wow, anyways, hey

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00:15:50,039 --> 00:15:56,240
got a question for Steve myself.
Kl at Carrie Lutz dot com and make

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00:15:56,240 --> 00:16:00,639
sure you go to Financial Survival Network
dot com sign up for you for newsletter.

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A link to Steve's site will be
present and we appreciate you coming back

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on Steve. We'll talk to you
again real soon. Okay, thanks,

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carry all the best, Thanks for
listening to Carrie Lenz's Financial Survival Network,

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your solution to today's trying times.
For the latest, go to Financial Survivalnetwork

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dot com. Financial Survival Network now
more than ever,