Oklahoma fossil fuel blacklist could cost retirees millions

[trekrok]

So you're going with oil and gas doesn't basically run the state and determine a great deal of how things are ran?

Where did I say O&G didn't provide a good living to many people here?

They don't 'run' anything, but it certainly is a very significant source of revenue for the state.

I believe the state probably needs that revenue, as do all the people that work in the industry.

None of that happens without access to banking and capital. And if a set of those capital and banking providers are against the industry that provides critical revenue to us, why should the state reward them with management fees for pension funds?

 

[HillsideDesolate]

But what point is being made and to what/who's benefit? How sad is that we're seemingly okay with potentially losing $10 million.


As The Frontier first reported, many firms on the list don’t actually qualify for inclusion under the law and the criteria for how companies can get off the list is murky at best.

The Frontier found the Oklahoma State Treasurer’s office applied criteria for blacklisting companies inconsistently, leaving some firms claiming they have been arbitrarily and wrongly banned from doing business with the state. The blacklist could have far-reaching effects on everything from financing for public works projects to how state payroll checks are processed.

If we allow these woke Corporation to peddle degeneracy without consequences we stand to lose a lot more than money.

 

[BobbyV]

And if a set of those capital and banking providers are against the industry that provides critical revenue to us, why should the state reward them with management fees for pension funds?

The requirements to make the list were inconsistently applied. There is no verification that this is the case. If there is evidence found to back up them being on the list AND an adequate replacement is found fine.

 

[BobbyV]

If we allow these woke Corporation to peddle degeneracy without consequences we stand to lose a lot more than money.

Do the consequences retirees could face matter? That's my entire point. This seems to all be done to score points with people and no real "back-up" plan seems to be in place.

 

[HillsideDesolate]

Do the consequences retirees could face matter? That's my entire point. This seems to all be done to score points with people and no real "back-up" plan seems to be in place.

I will gladly sacrifice some extra cash for the retired in favor of the future of my children.

 

[trekrok]

Do the consequences retirees could face matter? That's my entire point. This seems to all be done to score points with people and no real "back-up" plan seems to be in place.

Does a one time .1% expense hit to the pension fund really matter? How much does it fluctuate in a day?

 

[ConstitutionCowboy]

As for me, I believe doing business with anyone or thing who or that is out to destroy you is tantamount to suicide.

Woody

 

[sherrick13]

If my math is correct, $10 mill in expenses on $7 bill in affected assets, that would be .1%?

That seems worth it to make the point. Oklahoma may not make a dent in the Blackrocks, but if other states do the same, it might be felt.

This, we really have to start fighting back.

 

[BobbyV]

I will gladly sacrifice some extra cash for the retired in favor of the future of my children.

Sacrificing your retirement cash or that of others?

How does what the state is doing do anything in favor of your children?

 

[BobbyV]

Does a one time .1% expense hit to the pension fund really matter? How much does it fluctuate in a day?

Apparently none of this really matters . . . .