Can't find it because he has so many articles but there was one that talks about how ESG makes sense from an index fund owning oil point of view because it's an

Can't find it because he has so many articles but there was one that talks about how ESG makes sense from an index fund owning oil point of view because it's an excuse for the fund managers to basically coordinate collusion among the oil companies. If they all have the same shareholders then those shareholders can tell of them to produce less oil and the price will increase. The usual concern of defecting is taken care of because of the collusion. If one of the companies doesn't produce less the fund managers can vote them out for not being "ESG" enough.