15 State Treasurers Warn They Will Pull Assets From Banks That Obstruct the Fossil Fuel Industry

[excalibur]

This is what we need, fighting Republicans and not the cowering Romney-McCarthy-McConnell-Bush types.

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Fifteen Republican State Treasurers sent a warning that they will pull assets from financial institutions if they give in to Federal pressure to de-carbonize and “refuse to lend to or invest in” the fossil fuel and coal industry.​

​

The letter (pdf), led by West Virginia Treasurer Riley Moore, is directed at Special Presidential Envoy for Climate John Kerry. It expresses concerns over reports that Kerry and other members of the Biden administration have been “privately pressuring” U.S. banks to stifle the fossil fuel industry.​

​

“We are writing today to express our deep concern with recent reports that you, and other members of the Biden Administration, are privately pressuring U.S. banks and financial institutions to refuse to lend to or invest in coal, oil, and natural gas companies, as part of a misguided strategy to eliminate the fossil fuel industry in our country,” the letter reads.​

​

The State Treasurers sent a plain message to financial institutions, telling them not to submit to the present administration’s coercion to deny investment and lending for the natural resources.​

​

Furthermore, they assert that the approaches will “discriminate against law-abiding U.S. energy companies and their employees, impede economic growth, and drive up consumer costs,” adding that the strategy in question would make the free market submit to the will of politicians.​

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The signees of the letter are representing collectively more than $600 billion in assets, according to Axios.​

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...​

15 State Treasurers Warn They Will Pull Assets From Banks That Obstruct the Fossil Fuel Industry

www.theepochtimes.com

 

[elektra]

A little good news. Thanks.

Users ask how is Biden and the Democrats obstructing the oil industry, well here is one way, attack the financing

 

[JLW]

As usual, these Pubs are on the wrong side of history. The age of fossil fuels is coming to an end. The nation and the world understand that we must move beyond fossil fuels. Pubs can stomp their feet, cry and whine, and like latter day Luddites seek to smash solar panels, but in the end, they will go the same way as Luddites: Into the laughing bin of histroy.

 

[Anomalism]

As usual, these Pubs are on the wrong side of history. The age of fossil fuels is coming to a quick conclusion. The nation and the world understand that we must move beyond fossil fuels. Pubs can stomp their feet, cry and whine, and like latter day Luddite seek to smash solar panels, but in the end, they will go the same way as Luddites: Into the laughing bin of histroy.

We still need oil. I think a lot of lefties don't understand the magnitude of our dependence or how far we still are from being able to stop using it. I agree that green energy is the future. Oil is still the present though, and we have a long way to go before that changes.

 

[JLW]

We still need oil. I think a lot of lefties don't understand the magnitude of our dependence or how far we still are from being able to stop using it. I agree that green energy is the future. Oil is still the present though. We have a long way to go before that changes.

No one underestimates our dependence on fossil fuels. Too many don’t understand, or perhaps underestimate, the magnitude of the problems fossil fuels are causing our world and environment. The transition from fossil fuels to renewals is inevitable. The sooner it is made, the better for all.

 

[Resnic]

Alternative means of energy are vital and should be researched without a doubt.

But fossil fuels shouldn't be hampered at all. They should be going full steam ahead and as alternative forms of energy become actually proven they can slowly be added and as they replace fossil fuels gradually the fossil fuel workers convert so no one loses their job.

Fossil fuels are essential and a keystone, nuclear energy should be our stepping stone to alternate fuels. Nuclear energy has come a long long way since back when we used to use them. They tested storing the waste till it became inert, and even Penn and teller had a bullshit episode where they showed a test of a waste transport vehicle was blown up and set on fire and leaked 0 radiation.

Transitioning from fossil fuel should be a long and tedious process. It isn't something you can rapidly do.

I'm glad to see some people with the balls to stand up though and say this. I hope more follow suit.

 

[Cellblock2429]

As usual, these Pubs are on the wrong side of history. The age of fossil fuels is coming to an end. The nation and the world understand that we must move beyond fossil fuels. Pubs can stomp their feet, cry and whine, and like latter day Luddites seek to smash solar panels, but in the end, they will go the same way as Luddites: Into the laughing bin of histroy.

/——/ Wrong dumbass. Alter energy is the wave of the future but it’s not ready to replace fossil fuels. BTW, why do you libtards fight against alternative fuels like hydroelectric and nuclear power?

 

[pknopp]

Here in WV one of the biggest fossil fuel producers is our own governor Jay Justice. It seems he gets sued weekly for not paying what he owes to the banks so I imagine at least here, it will simply take care of itself.

 

[pknopp]

/——/ Wrong dumbass. Alter energy is the wave of the future but it’s not ready to replace fossil fuels. BTW, why do you libtards fight against alternative fuels like hydroelectric and nuclear power?

We've discussed this. It's like arguing people are against their neighbors owning a dragon. There is no one wanting to actually build a nuclear power plant or anyone that wants one anywhere near them.

 

[JLW]

/——/ Wrong dumbass. Alter energy is the wave of the future but it’s not ready to replace fossil fuels. BTW, why do you libtards fight against alternative fuels like hydroelectric and nuclear power?

Hey Trumptard, find where I ever argued against nuclear or hydroelectric power. The question is why Trumptards like yourself do all in your power to stifle innovation into alternative and renewable energy.

 

[struth]

As usual, these Pubs are on the wrong side of history. The age of fossil fuels is coming to an end. The nation and the world understand that we must move beyond fossil fuels. Pubs can stomp their feet, cry and whine, and like latter day Luddites seek to smash solar panels, but in the end, they will go the same way as Luddites: Into the laughing bin of histroy.

As par for the course you miss the point. It's not that the future is moving from fossil fuels...it is, and most are fine with that. The issue is how the Xiden Admin is using fasicist tactics to undermine businesses they do not like.

We should be encouraging energy companies to advance technology to make renewable energy more user friend, not cutting loans to them.

 

[Cellblock2429]

We've discussed this. It's like arguing people are against their neighbors owning a dragon. There is no one wanting to actually build a nuclear power plant or anyone that wants one anywhere near them.

/——/ We’ve discussed this too. Now why the resistance to hydroelectric?

Plans For New Reactors Worldwide​

(Updated November 2021)

• Nuclear power capacity worldwide is increasing steadily, with about 50 reactors under construction.
• Most reactors on order or planned are in the Asian region, though there are major plans for new units in Russia.
• Significant further capacity is being created by plant upgrading.
• Plant lifetime extension programmes are maintaining capacity, particularly in the USA.

Today there are about 445 nuclear power reactors operating in 32 countries plus Taiwan, with a combined capacity of about 400 GWe. In 2020 these provided 2553 TWh, about 10% of the world's electricity.

About 50 power reactors are currently being constructed in 19 countries (see Table below), notably China, India, Russia and the United Arab Emirates.

Each year, the OECD's International Energy Agency (IEA) sets out the present situation as well as reference and other – particularly carbon reduction – scenarios in its World Energy Outlook (WEO) report. In the 2021 edition (WEO 2021), the IEA's 'Stated Policies Scenario' sees installed nuclear capacity growth of over 26% from 2020 to 2050 (reaching about 525 GWe). The scenario envisages a total generating capacity of 17,844 GWe by 2050, with the increase concentrated heavily in Asia, and in particular India and China. In this scenario, nuclear's contribution to global power generation is about 8% in 2050.

 

[pknopp]

/——/ We’ve discussed this too. Now why the resistance to hydroelectric?

Plans For New Reactors Worldwide​

(Updated November 2021)

• Nuclear power capacity worldwide is increasing steadily, with about 50 reactors under construction.
• Most reactors on order or planned are in the Asian region, though there are major plans for new units in Russia.
• Significant further capacity is being created by plant upgrading.
• Plant lifetime extension programmes are maintaining capacity, particularly in the USA.

Today there are about 445 nuclear power reactors operating in 32 countries plus Taiwan, with a combined capacity of about 400 GWe. In 2020 these provided 2553 TWh, about 10% of the world's electricity.

About 50 power reactors are currently being constructed in 19 countries (see Table below), notably China, India, Russia and the United Arab Emirates.

Each year, the OECD's International Energy Agency (IEA) sets out the present situation as well as reference and other – particularly carbon reduction – scenarios in its World Energy Outlook (WEO) report. In the 2021 edition (WEO 2021), the IEA's 'Stated Policies Scenario' sees installed nuclear capacity growth of over 26% from 2020 to 2050 (reaching about 525 GWe). The scenario envisages a total generating capacity of 17,844 GWe by 2050, with the increase concentrated heavily in Asia, and in particular India and China. In this scenario, nuclear's contribution to global power generation is about 8% in 2050.

Run your extension cord to Taiwan. It matters none what I think. None.

 

[Smokin' OP]

/——/ Wrong dumbass. Alter energy is the wave of the future but it’s not ready to replace fossil fuels.

Sure it is, idiot.

They aren't replacing oil fired plants with more oil fired oil plants.
They replacing them with NG fired energy plants.

BTW, why do you libtards fight against alternative fuels like hydroelectric and nuclear power?

 

[Cellblock2429]

Sure it is, idiot.

They aren't replacing oil fired plants with more oil fired oil plants.
They replacing them with NG fired energy plants.

/----/ Well, take your pick of articles and read them.

alternative energy not ready yet at DuckDuckGo

DuckDuckGo. Privacy, Simplified.

duckduckgo.com

So when California had rolling blackouts, why did so many EV get stranded with dead batteries? I thought California was the leading edge of alternative fuels.

 

[Smokin' OP]

/----/ Well, take your pick of articles and read them.

alternative energy not ready yet at DuckDuckGo

DuckDuckGo. Privacy, Simplified.

duckduckgo.com

So when California had rolling blackouts, why did so many EV get stranded with dead batteries? I thought California was the leading edge of alternative fuels.

So, when they had rolling blackouts, gas stations couldn't dispense fuel, either.

 

[Cellblock2429]

So, when they had rolling blackouts, gas stations couldn't dispense fuel, either.

/----/ I can't answer for every state but many stations in NY have gas-powered generators that could pump gas. There was price gouging, but 10 gallons was enough for us during the hurricane.

 

[Smokin' OP]

/----/ I can't answer for every state but many stations in NY have gas-powered generators that could pump gas. There was price gouging, but 10 gallons was enough for us during the hurricane.

You can do the same, with an EV station.

 

[iceberg]

Alternative means of energy are vital and should be researched without a doubt.

But fossil fuels shouldn't be hampered at all. They should be going full steam ahead and as alternative forms of energy become actually proven they can slowly be added and as they replace fossil fuels gradually the fossil fuel workers convert so no one loses their job.

Fossil fuels are essential and a keystone, nuclear energy should be our stepping stone to alternate fuels. Nuclear energy has come a long long way since back when we used to use them. They tested storing the waste till it became inert, and even Penn and teller had a bullshit episode where they showed a test of a waste transport vehicle was blown up and set on fire and leaked 0 radiation.

Transitioning from fossil fuel should be a long and tedious process. It isn't something you can rapidly do.

I'm glad to see some people with the balls to stand up though and say this. I hope more follow suit.

you fade out one and fade into another and let things follow as best they can in a natural progression.

all this MUST END NOW AND MOVE ALL TO OUR WAY is bullshit, causes mass trainwrecks of industries and lives and in the end, YOU STILL NEED the existing industries to power the grid so you can plug your damn tesla in at night.

sucks that highly paid people don't have better foresight than a jilted child.

 

[Ivan88]

Stop talking about it, and Do It.
By talking about it, they wiped out the element of surprise and shock.
Now the banks et. al. are ready to counter.
Stupid politicians, pretending to do something useful?