#Wells county voice driver#

Wondered Swartzwelder, “who gets the Scope 3 emissions from the pizza? The delivery service, the fuel or the pizza? It seems very amorphous and hard to improve upon.” It’s like McDonald’s agreeing to be responsible for the body weight of anyone who ever ate a Big Mac, he added.

#Wells county voice driver#

Those 8,800 grams count not only in Chevon’s Scope 3 emissions but also in the Scope 3 emissions of Domino’s, who made the pizza, Uber, who delivered the pizza, Ford, who manufactured the car leased by the Uber driver and Facebook, which ordered it for an employee meeting.” That represents 8,800 grams of emitted carbon dioxide. “Suppose a gallon of gasoline is used to deliver a pizza. “First, Scope 3 emissions calculations effectively double, tripe and even quadruple-count the same unit of emissions,” he wrote Chevron. He in particular expressed concerns about Chevron’s shareholder-imposed Scope 3 emissions caps. Having recently acquired Chevron stock, Ramaswamy issued a letter to the company’s chief executive officer detailing some of these concerns. Well, he pointed out, top Exxon shareholders who own 6% of Exxon also own 6% of PetroChina. For example, Exxon may cancel a project in the US because of ESG concerns that will instead be built in China by PetroChina, which is far less environmentally clean than US operators. Indeed, he pointed out there may be conflicts of interest. Many ESG initiatives do not serve a company’s shareholders nor its fiduciary commitments, he said. Even in hiring and compensation, they should be made based on job qualifications not other factors like gender, race or sexual persuasion.” “The key is, our message to the US energy industry is to drill, frac, whatever you need to do to be maximally successful, financially successful over the long run without concern for ESG issues.

“It’s bringing a new voice – I call it a post-ESG voice - to focus on delivering excellent products and services to customers and providing returns to shareholders rather focusing on ESG,” Ramaswamy said. That is why his company has launched its first energy index fund – DRLL – to compete with the likes of BlackRock. The soaring demand for energy as the global economy emerges from the pandemic – and the expected continued demand for fossil fuels – has created a generational opportunity for the nation’s energy companies to fill the void by producing more energy, he said. What we’re seeing passed is not through the halls of Congress but through the halls of corporations.” If the US did not ratify the Paris climate accords, it’s not Chevron’s job to ratify it instead. But in the US, they’re not dictated by law but through shareholder pressure. “Even in Europe, a lot of these initiatives are dictated by law. The US energy industry has been the sector most damaged by ESG demands, Ramaswamy said, because they’re not applied equally to energy sectors across the globe but to the US. To effectively comply with what ESG advocates want, he said companies would need to eliminate the use – or at least growth – of fossil fuels, “which seems backwards and oppressive.” “This is such a convoluted set of issues that you need something for folks to understand to provide a foundation,” commented Grant Swartzwelder, president of OTA Solutions, who moderated the webinar. Ramaswamy likened it to a group of oil and gas company executives holding a Zoom meeting to agree on production cuts to boost gasoline prices, which he said is not only violates antitrust laws but price-fixing laws.