Texas bans investments in firms that oppose oil and gas

 Daily Caller:

Texas placed restrictions on 10 finance firms, declaring that the firms’ opposition to fossil fuels could “undermine” the state economy, according to Texas Comptroller of Public Accounts Glenn Hegar.

Hegar, a Republican, listed several firms that will be banned from entering into most contracts with state and local entities after his office determined that the companies “boycott” the oil industry.

Between March and April, Hegar requested information from more than 100 companies to determine whether they were steering clear of the oil industry. The move came after the state passed a law in 2021 limiting Texas governments from working with certain firms that have nixed ties with the oil industry. Texas is the nation’s top producer of both natural gas and crude oil. (RELATED: Biden’s EPA Has America’s Biggest Oil Field In Its Regulatory Crosshairs)

The companies banned include BlackRock Inc., UBS Group AG, BNP Paribas SA, Credit Suisse Group AG, Danske Bank A/S, Jupiter Fund Management Plc, Nordea Bank ABP, Schroders Plc, Svenska Handelsbanken and Swedbank AB. BlackRock is a major proponent environmental, social and governance investing (ESG), an approach to investing that scores companies based on their commitments to certain environmental aims and social causes, such as racial and gender diversity and the promotion of so-called green energy alternatives.
...

“A diverse energy portfolio is necessary for Texas to meet our future energy needs, and a vibrant Texas oil and gas industry is a stabilizing force in today’s economic and geopolitical environment,” Hegar continued. “My greatest concern is the false narrative that has been created by the environmental crusaders in Washington, D.C., and Wall Street that our economy can completely transition away from fossil fuels, when, in fact, they will be part of our everyday life into the foreseeable future.”
...

BlackRock disputed the claim that it did not invest in oil and gas.  It does however support the ESG movement which is a proponent of Big Green.

See, also:

Texas Cuts Ties With BlackRock, Other Woke Firms Over Their Hatred For Fossil Fuels

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more

Bin Laden's concern about Zarqawi's remains

James Robbins: ... Bin Laden suggests that President Bush should allow Zarqawi’s body to be returned to his family in Jordan, but this is a matter that is up to the Jordanian government, which so far has not shown much interest in facilitating a homecoming. Bin Laden mocks King Abdullah II, calling him a Coalition minion, and asking “w hat scares you about Abu Musab after he’s dead? You know that his funeral, if allowed to happen, would be a huge funeral showing the extent of sympathy with the mujahedin.” A large crowd would definitely turn out, though most people would be on hand to demonstrate their anger and disgust. Last November’s hotel bombings in Amman , masterminded by Zarqawi, are still fresh in people’s memory, and mentioning them to Jordanians has the same visceral impact as memory of the 9/11 attacks does here. Jordan has adopted a zero-tolerance policy towards those who choose to mourn the country’s least favorite son, and four opposition members of parliament who paid con
Read more