BlackRock’s green agenda – not the Ukraine invasion – triggered the global energy crisis

03/10/2023 / By Belle Carter

Contrary to popular opinion that the Russian attack on Ukraine gave rise to the looming worldwide energy collapse, a strategic risk consultant and best-selling author revealed that the crisis is a long-planned strategy of western corporate and political circles to dismantle industrial economies in the name of a dystopian green agenda.

In an article published on Global Research, Princeton University alumnus F. William Engdahl said President Joe Biden’s administration as well as the European Union have been insisting that the energy crunch was brought about by Russian President Vladimir Putin’s offensive in Kyiv. However, Engdahl noted that BlackRock CEO Larry Fink is believed to be the one stirring up the energy crisis pot.

In January 2020, Fink sent a letter to his Wall Street colleagues and corporate CEOs announcing a radical departure from corporate investment by saying that money would “go green.”

“In the near future – and sooner than most anticipate – there will be a significant re-allocation of capital. Climate risk is investment risk,” Fink said, stressing that “every government, company and shareholder must confront climate change.”

Fink, who manages some $7 trillion in investments, wrote a separate letter to their investor clients where he indicated that his company will cut certain high-carbon investments such as coal and that he would screen new investments in oil, gas and coal to determine their adherence to the United Nations’ Agenda 2030. He said companies and governments that do not respond to stakeholders and address sustainability risks will encounter growing skepticism from the markets, which would cause a higher cost of capital.

“Climate change has become a defining factor in companies’ long-term prospects. We are on the edge of a fundamental reshaping of finance,” he said.

Showing how the company has since then influenced the industry, penalizing carbon-dioxide-emitting companies has become the norm among hedge funds and Wall Street banks and investment funds, including State Street and Vanguard. Fink was even able to convince four new board members in ExxonMobil to end the firm’s oil and gas business.

The 2020 letter triggered a colossal disinvestment in the trillion-dollar oil and gas sector. Engdahl pointed out that Fink was even named to the Board of Trustees of the World Economic Forum (WEF), which was the main proponent pushing for the “Zero-Carbon UN Agenda 2030.”

BlackRock was also a founding member of the Task Force on Climate-related Financial Disclosures and is a signatory of the Principles for Responsible Investing (PRI), a UN-supported network of investors pushing zero-carbon investing. It also signed the Vatican’s 2019 statement advocating carbon pricing regimes. In 2020, it joined the Climate Action 100, a coalition of almost 400 investment managers managing $40 trillion.

The next year, Fink wrote another letter as a follow-up attack on fossil fuels, asking companies to disclose a plan for how their business model will be compatible with a net-zero economy. By 2022, an estimated $1 trillion already has exited the investment in oil and gas exploration and development globally. (Related: Meet BlackRock: The ‘architect of woke capitalism’ destroying America from within.)

Biden, BlackRock is killing the energy industry

In exchange for Fink’s “I am here to help” promise to Biden’s presidential campaign, the latter quickly announced getting rid of fossil fuels even before he was inaugurated. Biden also installed BlackRock’s Global Head of Sustainable Investing Brian Deese as the assistant to the president and director of the national economic council.

Deese provided a list of anti-oil measures to sign by executive order, which included closing the huge Keystone XL oil pipeline and halting any new leases in the Arctic National Wildlife Refuge (ANWR). Biden also rejoined the Paris Climate Accord that Deese had negotiated for then-President Barack Obama. President Donald Trump canceled this during his term.

Moreover, Biden’s environmental rules and BlackRock’s investing mandates started to kill the refinery capacity. “In the first two years of Biden’s presidency, the U.S. has shut down some one million barrels a day of gasoline and diesel refining capacity, the fastest decline in US history,” Engdahl said.

He also said that this year, “an added 1.7 million bpd [barrels per day] of capacity is set to close as a result of BlackRock and Wall Street disinvesting and Biden regulations.”

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