Texas comptroller adds NatWest to list of companies ‘boycotting’ fossil fuel firms

[Tommy Tainant]

Texas comptroller adds NatWest to list of companies ‘boycotting’ fossil fuel firms

The bank is latest to be named by officials in the US state, which has law to protect oil and gas sector

www.theguardian.com

Well I guess they are trying to protect their industry, even at the cost of destroying the planet.

Nut restricting the choices of local institutions seems a strange way to do it.Especially from the party of small govt.

Is this another Schrodinger law ?

 

[Manonthestreet]

Why aren't they boycotting all things that have fossil fuels in their chain of production. . .more look at me being a hypocrite

 

[ReinyDays]

You expect the Texas State Pension Program to invest in anti-Texas businesses? ... is that why UK is so deep into North Korea and Iran, funding their nuclear weapons programs? ... yeesh ...

State government divestment is not considered effective ... first off, it's not much discretionary money, state laws govern how money is invested ... you can bet the state employee retirement funds are very closely watched by the state employee labor union ... comptrollers don't mess with the State Supreme Court's pensions ... or else ... any and all balanced portfolios will have a position in the fossil fuel industry ...

Bottom line: NatWest is a bad investment ... for you, for me, for Texas ... putting politics before profit is why there's a Middle Class ...

 

[Tommy Tainant]

You expect the Texas State Pension Program to invest in anti-Texas businesses? ... is that why UK is so deep into North Korea and Iran, funding their nuclear weapons programs? ... yeesh ...

State government divestment is not considered effective ... first off, it's not much discretionary money, state laws govern how money is invested ... you can bet the state employee retirement funds are very closely watched by the state employee labor union ... comptrollers don't mess with the State Supreme Court's pensions ... or else ... any and all balanced portfolios will have a position in the fossil fuel industry ...

Bottom line: NatWest is a bad investment ... for you, for me, for Texas ... putting politics before profit is why there's a Middle Class ...

State Pension schemes should always invest in what is best for pensioners not the state of Texas. We have laws about that over here. I suspect that you do as well.

 

[Tommy Tainant]

Why aren't they boycotting all things that have fossil fuels in their chain of production. . .more look at me being a hypocrite

Yes its a popular move. People are keen on the planet.

 

[Manonthestreet]

Yes its a popular move. People are keen on the planet.

No they aren't...they are angling for handouts

 

[Dekster]

Texas comptroller adds NatWest to list of companies ‘boycotting’ fossil fuel firms

The bank is latest to be named by officials in the US state, which has law to protect oil and gas sector

www.theguardian.com

Well I guess they are trying to protect their industry, even at the cost of destroying the planet.

Nut restricting the choices of local institutions seems a strange way to do it.Especially from the party of small govt.

Is this another Schrodinger law ?

So? Boycotts can have consequences. They boycott oil so oil state boycotts them.

 

[Tommy Tainant]

So? Boycotts can have consequences. They boycott oil so oil state boycotts them.

I dont kmow how much business they did with texas. I would guess not much.

 

[Tommy Tainant]

No they aren't...they are angling for handouts

From who ?

 

[Dekster]

I dont kmow how much business they did with texas. I would guess not much.

Then it will be even less now. C'est la vie and all that.

 

[Tommy Tainant]

Then it will be even less now. C'est la vie and all that.

They will balance that with the business they pick up. Certainly over here. it will help them pick up student accounts at every Uni.

BTW I think that is the calculation they made. I dont think ethics is a factor.

 

[Dekster]

They will balance that with the business they pick up. Certainly over here. it will help them pick up student accounts at every Uni.

BTW I think that is the calculation they made. I dont think ethics is a factor.

It is almost always a cost-benefit calculation.

 

[Zincwarrior]

Reserve based lending is a very niche industry. There are not that many players, especially since many were badly burned a few years ago. I imagine this is substantially less about eco politics and more about they don't want to be in that business any more.

 

[Tommy Tainant]

Remember the biggest shareholder in Natwest is the UK govt..
Doing business in Texas is not a great thing.