Brian Zinchuk is editor and owner of Pipeline Online
In recent weeks, Pipeline Online editor Brian Zinchuk has been a guest on talk radio, first with CJME/CKOM’s John Gormley, and then on CBC Radio One’s Blue Sky on Feb. 10.
Topics included the low number of drilling rigs contracted by the two largest oil producers in Saskatchewan, and how the impact of the ESG movement – environment, social and governance – may be impacting that.
ICYMI: Pipeline Online editor Brian Zinchuk was on Blue Sky with Garth Materie – Feb. 10, 2022: Given the high prices for gas, what's happening in the oil sector? https://t.co/uI0vkBP2aI
— PipelineOnlineCa (@Pipeline_Online) February 12, 2022
You can listen to the audio in the link in the tweet above. Be sure to listen to the end, when he tangles with a caller who self-righteously declares how he’s been an ethical investor since the 1980s and won’t invest in Saskatchewan.
Caller “James” said, “Just a note on his comments on the ESG stuff. I’ve been investing in mutual funds for four decades or so, more than that, and in the mid 80s under the Mulroney government, my wife and I decided that we would go with ethical investments which did not invest in the petrochemical industry, does not invest in the uranium industry, and does not invest in the arms industry. So this ESG stuff is not a new thing.
“I went to a conference in 1989 in Toronto which was specifically aimed at this and was talking people into not investing in these industries for the good of the planet. I was involved in a labor sponsored RRSP funds and they divested of oil in Saskatchewan, and it was a Saskatchewan-based fund. And one of the ministers of the current government was there as a support to it. And so when we hear this ESG stuff is new, it’s not. It’s been going on for decades. And I’m proud of it. I won’t invest in Saskatchewan as long at that’s going on. Thank you.”
Zinchuk replied, “I did want to address what the gentleman said about ethical funds. I would say that ESG is absolutely the outgrowth of the ethical investment movement. And I do think that if he has courage of his convictions on that then he should be very happy to turn off his natural gas valve when the temperature goes down to minus 30. And if you want to be so committed to that, then absolutely, go for it. Turn off your valve.”
Last winter, Zinchuk put together a video with instructions on how to do just that, as seen below.
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