The state of West Virginia is taking its money out of companies that are boycotting fossil fuels. Now THIS is what we need to see more of.
The state has informed companies including Blackrock Inc, Morgan Stanley, Wells Fargo & Co, and JPMorgan Chase & Co that their attacks on gas, coal, and oil investments has made them untenable in the eyes of state lawmakers.
Per Reuters some f the companies tried to lie their way out of the matter:
Spokespeople for Wells Fargo and Morgan Stanley said the banks disagreed with the decision, and a spokesperson for JPMorgan called it “disconnected from the facts.” A BlackRock spokesperson said it also disagreed with the decision.
“BlackRock does not boycott energy companies, and we do not pursue divestment from sectors and industries as a policy,” the spokesperson said.
The move to kick out some of the world’s largest financial institutions, including the world’s largest asset manager, Blackrock, comes as Republicans are ramping up pressure on Wall Street to step back from efforts to address climate change and tackle other social issues.
It is just as it should be. Companies should not be engaging in social activism, nor should they be working to de-person conservative customers like they are doing.
The left has been pressuring these companies to toe the hardcore, anti-American, left-wing agenda for decades. IT is long past time that conservatives start doing the same to reverse this destructive leftism.Commentary