“There were all of these idiots that were just saying, if anyone is doing hydrocarbons, we're going to blackball them from doing business or from receiving capital,” Bass said in an interview. “And so Texas lashed back and said, if you're going to blackball someone that's producing hydrocarbons, we're not going to do business with you either.” This reflects a growing backlash against aggressive climate activism on Wall Street.
“Energy transitions take 40 or 50 years,” Bass said. There are people who “think we can just turn off fossil fuels overnight, and that’s simply not how our economy or society works.” He stresses the need for a more gradual approach to energy transition to avoid economic disruption.
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