Cactus Schroeder: There was so much money thrown at green energy - and it's all flopping - so these people are not going to continue putting money into things that aren't making money. BlackRock was such a big deal with their [ESG]. And they're having to take a step back and say, "we're not making money" and, because they put all those regulations and they're on so many boards, the state of Texas has said, "bye, we're not doing business with you anymore." They sold all their BlackRock stock and I think Louisiana's getting ready to do that as well or may have already. And so some of those companies, they're going to have to change what they're doing or suffer the consequences.
Dan Ferris: Yeah, it's just another version of go woke, go broke. Anheuser Busch, Disney, now Porter [Stansberry] argues that Starbucks is because they started letting homeless people come in and use the bathroom and he said that it turned it from a business into a charity. And now their results are sucking wind. They're doing terribly. At some point reality does kick in. Reality kicks in and we all want our standard of living so we all know it's based on oil and gas and it's not based on a whole lot else.
~ Cactus Schroeder,
interview with Dan Ferris,
Stansberry Investor Hour, 32:30 mark, May 6, 2024
No comments:
Post a Comment