Tuesday, March 19, 2024

The Texas Permanent School Fund Has Withdrawn $8.5 Billion Under Black Rock Managment Due To Its Opposition To Oil and Gas Production prx toito undwha


The public schools of Texas receive over a billion dollars yearly from royalties from oil production and dividends from oil stocks
The Texas Permanent School Fund has sent a termination notice to Black Rock
Withdrawing its $8.5 billion funds under management due to its adherence to ESG that investments in oil and gas investments block
Too often American global companies are American only in terms of name
Exporting jobs overseas in pursuit of lower costs and short term higher profits to gain
Leaving towns and cities full of jobless scrambling to make ends meet
And many shops and restaurants closed up and down Main Streets
The Texas Permanent School Fund has listened to Marx that others have ignored
Running a real risk that their prosperity and wellbeing will be gored
Marx was serious when he said, “The last capitalist we hang shall be the one who sold us the rope.”
The Texas Permanent School Fund in withdrawing funds are brilliant fiduciaries not short term profit seeking dopes
Hopefully pension funds will take heed
That the EGS and DEI mantra mediocracy not meritocracy breed

© 3/1/2024 Michael P. Ridley aka The Alaskanpoet

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