You’ll Never Guess Which State Is Resisting ESG Measures

Leaders in Oklahoma are uniting against discrimination targeting the state’s energy producers. The Oklahoma Energy Producers Alliance (OEPA) and State Treasurer Todd Russ are working together to withhold state funds from institutions that engage in discriminatory practices against oil, gas, and agriculture businesses.

The OEPA recently issued a press release expressing their commitment to push back against woke policies that hinder the growth of crucial industries in Oklahoma. Treasurer Russ has taken decisive action against lenders who violate the state’s anti-ESG law, which aims to hold accountable companies that discriminate against fossil fuel industries.

ESG financing has sparked controversy as major financial institutions have cut off funding to traditional energy producers. These institutions rely on non-financial standards, such as a company’s environmental and social impact, to guide their investment decisions. This approach diverges from the traditional focus on a business’s profitability.

While private companies can choose to adopt ESG policies, critics argue that smaller firms have been coerced into using these metrics by Wall Street corporations with woke agendas. The Biden administration has also championed ESG policies, as evident from the Department of Labor’s rules facilitating companies’ consideration of climate change and other factors in investment decisions.

Numerous federal agencies have followed suit, with approximately 20 agencies implementing some form of ESG strategy. President Biden has signed almost 30 executive orders related to ESG. Congressional Republicans attempted to pass a bill preventing pension fund managers from considering factors like climate change, but President Biden vetoed it, citing potential risks to the retirement savings of millions of Americans.

States like Oklahoma have taken matters into their own hands to safeguard their vital industries. Treasurer Russ believes the new legislation will protect the state’s economy, particularly the energy, oil and gas, and agriculture sectors. Oklahoma seeks to collaborate with financial institutions that prioritize free-market principles, ensuring fair access to financing for businesses in these industries.

The OEPA strongly supports Treasurer Russ’s actions, commending his courage and dedication to protecting Oklahoma producers. They emphasize the significance of local institutions aligning their interests with the well-being of agriculture, oil, and gas businesses, rather than succumbing to the woke policies of the Biden administration.

Critics argue that the Biden administration has weaponized ESG to further a political agenda and eliminate fossil fuel production in America. The resulting federal overreach and pressure on financial institutions have made it increasingly challenging for traditional energy companies to secure capital. Meanwhile, the renewable energy sector continues to receive substantial government subsidies.

If this trend persists, Americans may face serious consequences. Traditional energy companies, which are essential for meeting the nation’s energy demands, are being pushed aside, while green energy alternatives are not yet capable of bridging the gap. This could lead to skyrocketing gas prices, rolling brownouts, and strain on the energy grid.

Given Oklahoma’s heavy reliance on the oil and gas industry, it is crucial to resist woke policies like ESG. The OEPA urges Treasurer Russ to remain steadfast in the fight against discrimination and ensure that financial institutions do not receive billions of dollars if they continue to discriminate against Oklahoma’s vital industries.

Source Fox News