Posted on 08/16/2022 6:36:26 PM PDT by bitt
Ramaswamy says his initiative aims to combat the woke ESG movement impacting Corporate America
Entrepreneur and author Vivek Ramaswamy says his newly-launched fund aimed to bolster U.S. energy production has already raised over $100 million.
Last week, Ramaswamy's Ohio-based asset management firm Strive unveiled an exchange-traded fund DRLL which aims to be an energy index fund to combat the woke ESG movement that has stifled American energy.
In a press release obtained by Fox News Digital, DRLL "exceeded $100 million in assets under management (AUM) and over $160 million in traded volume in its first full week of launch.
"This represents an important milestone, and it's just the first step of our journey," Ramaswamy wrote in the press release. "Our goal is to unlock the potential of the U.S. energy sector by mandating companies to focus on excellence, including through greater oil and gas production, instead of social agendas imposed by large ESG-linked asset managers."
(Excerpt) Read more at foxnews.com ...
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Vivek was on Tucker tonight - I’ll try and post the segment later
I bought a few shares last Friday. I hope it does well.
It doesn’t show the top 10 holdings or a snapshot of its portfolio of stocks. I may prefer to just buy energy stocks (XOM, OXY, DVN, etc . . ).
The ANTI-ESG Fund. Excellent!
Already have my own favorites in that sector:
EPD, ET, CEQP-preferred, OVV
SEC investigation in 3 . . . 2 . . . 1 . . .
Ha!
Wife and I dropped 10K in it.
We shall see.
I’m not sure drilling is at the forefront of most majors’ plans. Chronic under investment in oil and gas worldwide since 2014 will take years to resolve. Refineries are already at 95%. Chevron CEO doesn’t see another being built in North America in his lifetime. Issues with infrastructure, supply bottlenecks, and labour shortages make new projects costly. And, after incurring losses post 2014, investors are now telling Oils, “show me the money” Here in Canada, most have pledged to return 50, 75 or even 100% of Free Cash Flow to investors once key debt levels are met. For some that begins in Q3.
Read later.
I asked before and got no replu.
What is “ESG”
A: a return to 19th century technology.
Thanks, that wasn’t available on the website I visited. Good stocks.
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