Story of the Week: December 2021

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December 18, 2021 — Life Runs on Energy from Energy Transfer
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December 18, 2021 — Life Runs on Energy from Energy Transfer

Life Runs on Energy from Energy Transfer  Appeared in the Financial Post on January 20, 2025 Gina's Thoughts Since this is the last Story of the Week for 2021, we thought we would do something a little bit different. Please enjoy this short video from an oil and gas company called Energy Transfer Inc. which shows that just about every product we use on a daily basis is dependent on oil and gas. Christmas is fast approaching and as we decorate our reliably warm homes with baubles and lights, cook festive dinners for family and friends and travel far and wide to be with loved ones, let us remember that oil and gas fuel our holiday cheer. Merry Christmas, Happy Holidays and Here's to 2022!
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December 11, 2021 — Small but growing number of Canadian universities divesting from fossil fuels
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December 11, 2021 — Small but growing number of Canadian universities divesting from fossil fuels

Small but growing number of Canadian universities divesting from fossil fuels by Stephen Leahy Appeared in University Affairs on December 8, 2021 Gina's Thoughts Stephen Leahy's piece on university divestment is another example of media not seeing the forest for the trees. In praise of divestment, he says it has a "symbolic impact", and is "all about making a bold, public statement".  He neglects to note that divestment has had zero impact on emissions reduction over the last ten years, or that the same decade has seen a growing demand for oil and gas.  Leahy states that the "fossil fuel industry has successfully pushed a kind of "petro-nationalism" that equates the national interests of Canada with its own and that "mining companies, electric utilities and heavy manufacturers" depend heavily on the oil and gas industry to support their own industries.  He seems to think these are bad things. Does he even reflect on the fact that when the oil and gas industry does well, Canada and Canadians do well? Or that Canadian oil and gas companies outperform their international competitors on virtually every indicator?
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December 4, 2021 — Fifteen States Respond to
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December 4, 2021 — Fifteen States Respond to "Woke Capitalism," Threaten to Cut Off Banks That Refuse to Service Coal, Oil Industries

Fifteen States Respond to "Woke Capitalism," Threaten to Cut Off Banks That Refuse to Service Coal, Oil Industries by Brittany Bernstein Appeared in the National Review on November 22, 2021 Gina's Thoughts Fifteen states in the USA are standing up for their energy industries by planning to take "collective action" against banks that adopt corporate policies to cut off financing for the coal, oil, and natural gas industries. As mentioned in a previous InvestNow Story of the Week, banks are now being aggressively targeted to divest from and stop financing fossil fuel companies. Now several states are fighting fire with fire. "The overarching objective of our actions will be to protect our states' economies, jobs, and energy independence from these unwarranted attacks on our critical industries. The financial officers say they will take 'concrete steps' within their authority to select financial institutions for their states' financial service contracts that 'support a free market and are not engaged in harmful fossil fuel industry boycotts'." One of the state treasurers goes on to say, "we want banks to go back to being banks and not instruments of this woke agenda." InvestNow agrees. We too want banks to go back to being banks, universities to go back to being universities and institutional and pension funds to go back to being institutional and pension funds. Canadian hydrocarbon companies have high standards of governance, operate under stringent environmental thresholds, provide well-paying jobs, fuel virtually every other industry on our stock exchanges, and are a heavy-hitter for Canada's economy. The hydrocarbon industry in Canada is worth standing up for.
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