Caring for the planet is good, but we all seem to be taken for fools. They took away plastic drinking straws, gave us paper bags that tear under the weight of food, and forced us to switch to electric cars, but there is no less hazardous waste.

Now, the idea of killing a couple of hundred thousand dairy cows because of their unecological stomachs is being discussed in Ireland. The cloven-hoofed animals are blamed for excessive methane emissions into the atmosphere and, consequently, global warming. Rocket launching is much safer for the planet...

There is no other way to call it but a greenwashing on a global scale. We are being sold a pacifier, and we believe it. Panic about running the washing machine at too high a temperature, and anxiety surrounding buying plane tickets. Of course, that doesn't mean we shouldn't care about emissions. It's just that we shouldn't mindlessly trust in the ESG miracle.

Let’s take electric cars as an example. Did you know that the production of lithium-ion batteries that power them causes more displacement and CO2 emissions than the production of regular gas-powered cars? Disposal of the batteries at the end of their life cycle is also a growing concern.

Have you ever wondered what powers the power plants to recharge cars? Certainly not by solar panels or windmills alone. By the way, there are some concerns surrounding them too. Firstly, without fossil fuels, there would be no ESG installations.

Secondly, used-up solar panels are so difficult and expensive to recycle that only some are taking it on. As a result, experts say by 2050, there could be as many as 78 million tons of unusable solar panels worldwide.

It is also hypocritical that governments blame oil companies for everything, which is undoubtedly true. Still, at the same time, they give permits for oil development on the Arctic continental shelf. The energy crisis of 2021 has dampened the anti-oil fervor.

So are green stocks doomed to collapse? Not as long as public money flows into the sector and people continue to believe in the eco-friendliness of electric cars and solar panels. But here's something to look at - the PE Ratio of First Solar, Inc. (FSLR) is now above the 500 mark as the stock screener suggests.

It is fantastic that the company’s business is booming, and they've announced a significant expansion, but the company is mildly overvalued. Whether Reddit members or big players are to blame is not so important. The main thing is not to be the "last fool.”

In general, the ESG sector is not going anywhere, but on the contrary, it will gradually gain popularity. Nevertheless, if you think that the profit of the companies will bankrupt those same oil companies in a couple of years, there is a high probability that you are mistaken.

Proof of the latter is that the debt limit agreement ordered federal agencies to issue permits for the Mountain Valley Pipeline. As long as global economic uncertainty and the threat of new energy crises persist, green energy will remain on the back burner.

When choosing between alternative energy sources and the "major polluters" of the planet, the stakes are inclined toward the latter due to overestimation of the former, doubts about their 100% environmental friendliness, and the situation in economics and geopolitics.

In addition, oil giants can always increase investment in green energy to satisfy part of the population. But we should understand that solar panels and electric cars also pollute the environment, just somewhere else.