Money Stuff: The Podcast · Friday, September 18, 2026
A lawsuit against BlackRock, alleging that ESG investors colluded to drive up coal prices by encouraging coal companies to reduce production, raises questions about whether a pro-humanity motive can justify antitrust violations. The case suggests that even with good intentions, restricting supply could be viewed as an illegal cartel.
“And the takeaway from this lawsuit is that even if you have a good pro-humanity reason for conspiring to restrict the supply of your product, it's still potentially an antitrust conspiracy.”
“And, like, by the way, that has to be wrong. Like, obviously, trying to save the world is a very good excuse for an antitrust conspiracy.”
“Right. And, like, by the way, that has to be wrong. Like, obviously, trying to save the world is a very good excuse for an antitrust conspiracy.”