Energy states begin responding to Blackrock investment freeze

 The Federalist:

West Virginia Republican Treasurer Riley Moore axed his state’s relationship with BlackRock last month over the $10 trillion investment firm’s dual loyalty to Chinese interests and woke capitalism.

“As the state’s chief financial officer and chairman of the Board of Treasury Investments, I have a duty to ensure that taxpayer dollars are managed in a responsible, financially sound fashion which reflects the best interests of our state and country, and I believe doing business with BlackRock runs contrary to that duty,” Moore said in a press release at the time.

Now the colossal Wall Street firm is void of oversight for the state’s investment fund, a liquid account worth approximately $1.5 billion. While it might not be much money to BlackRock, Moore tells The Federalist, it’s “a hell of a lot for the people of West Virginia,” and far too much to park with an investment firm infected by corporate wokeism working to defraud the state’s more than 1.7 million residents.

Despite holding $85 billion in coal assets as of January last year, BlackRock has emphasized its commitment to reaching net-zero carbon emissions, a near-term pledge incompatible with a flourishing energy industry reliant on instantaneous power provided by fossil fuels. The commitment while fostering Chinese investment has prompted well-founded skepticism about whether BlackRock has the best interests of its clients at stake.

Last week, the educational nonprofit Consumers’ Research unveiled a multi-million-dollar campaign to expose BlackRock’s close ties with the Chinese Communist Party (CCP). The watchdog published a new website on BlackRock’s CEO, WhoIsLarryFink.com, and debuted new ads for TV and radio complemented by mobile billboards in New York City, where the firm is headquartered.
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“Larry Fink and BlackRock are really delivering a one-two punch to the American economy,” Consumers’ Research Executive Director Will Hild told The Federalist. “One the right hand they’re using the ESG (Environmental, Social and Governance) scam to hamper American companies and make it harder to serve American consumers, on the left hand they’re funneling billions of dollars to the Chinese communist owned business to help them build the Chinese economy.”
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Further west in Texas, the company hired a team of lobbyists in Austin to protect its more than $20 billion handled as legislators prepare to follow Moore’s lead in withdrawing state business from the New York firm. After years of railing against fossil fuels in the name of politically correct investment practices, corporate executives are now engaged in double-speak to protect its access to public funds.

In January, Alex Epstein, the founder of Industrial Progress and author of “The Moral Case for Fossil Fuels,” reported company leaders sent a memo reassuring lawmakers who govern the top oil producer in the country of BlackRock’s commitment to back the industry.

“We will continue to invest in and support fossil fuel companies, including Texas fossil fuel companies,” read the memo sent at the start of the year. Weeks later, Fink wrote again of the CEO’s desire for BlackRock to play a prominent role in achieving net-zero emissions.
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With Blackrock's goal of getting to "net zero" it is hard to take seriously their "commitment to back the industry."  I am skeptical about the need to reduce fossil fuel usage.  for 50 years the predictions of gloom and doom have not come close to being met.  Add to that the lack of good alternative energy solutions and their move just does not make good sense.