Keystone Royalty Part 5: Dealing with the ESG movement as it tries to choke off investment in oil and gas

Pipeline Online has heard a narrative that goes something like this: despite high oil prices, many oil companies are not spending a lot on drilling. They are paying off debt as quickly as possible so that when they do want to do more drilling, they can do it out of free cash flow. This is because the ESG (environmental, social and governance) movement has so choked off capital, it’s been hard to get money from either banks or investors.