The Gigantic Holes in Anti-Oil ESG Activism

The Gigantic Holes in Anti-Oil ESG Activism
(AP Photo/Michael Probst)
Let’s start with the obvious: Oil is the world’s most important fuel, supplying 35% of all energy and over 95% of transportation needs. More than 6,000 everyday products contain oil as their core ingredient. Simply put, oil has no significant substitute, and it won’t for a long time. Massive amounts of wind and solar won’t displace “black gold” because these sources compete only in the power-generating sector, where oil effectively plays no role.
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