Oil

There is as aspect to the new green deal that many are not familiar with and it is called Environmental, Social, and Governance (ESG) investing. The Biden administration is backing legislation that will prohibit big investment companies like pension plans from investing in the fossil fuel industry. This will make oil stocks less attractive to investors and will limit the companies ability to increase production. Biden has told Americans that he wants the oil companies to produce more oil to bring down the price of gasoline but rules like this will interfere with the oil companies ability to increase production. It is suggested that Biden is doing this to placate the greens while at the same time encouraging more oil production. It's a topsy turvey world we live in.