Fantasy Versus Reality In Woke-Land
/JP Morgan Chase — it’s hard to find a more “woke” company than that one. Under celebrity CEO Jamie Dimon, JPM in its corporate pronouncements consistently positions itself at the most exquisitely correct end of the politically correct spectrum.
But reality can be tough. In its email of a couple of days ago, the Global Warming Policy Foundation links to JPM’s 2021 Annual Energy Paper. The Paper comes from JPM’s Asset and Wealth Management Group. The lead author is a guy named Michael Cembalest, who appears to have his ear right down on the ground of the global energy business.
The bottom line is that all the talk about “deep de-carbonization” of the world economy any time soon is a ridiculous fantasy. Fossil fuels are not going away for a long time, if ever. Carbon emissions into the atmosphere are increasing? You’d better get used to that.
Once again, this “deep de-carbonization” thing is a case of the really “smart” people deceiving you, or maybe themselves; or more likely, both.