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The Water Cooler
General Discussion
Oklahoma fossil fuel blacklist could cost retirees millions
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<blockquote data-quote="BobbyV" data-source="post: 4051206" data-attributes="member: 32629"><p>Why do Oklahoma politicians and other administrative types continue do junk like this? </p><p></p><p>[URL unfurl="true"]https://www.readfrontier.org/stories/state-retirement-system-says-oklahoma-fossil-fuel-blacklist-could-cost-retirees-millions/[/URL]</p><p></p><p>Under Oklahoma’s Energy Discrimination Elimination Act, public retirement systems are banned from doing business with companies on a state blacklist for those accused of boycotting the fossil fuel industry.</p><p></p><p>A law prohibiting Oklahoma public retirement systems from investing and contracting with financial companies accused of boycotting the fossil fuels industry could cost the state’s second-largest pension fund at least $9.7 million. </p><p></p><p>The Oklahoma Public Employees Retirement System is the first to release an estimate for how much it might cost retirees to shed investments from blacklisted companies. And the cost could be much higher after other trading costs are factored in, the retirement system’s chief financial officer warned Thursday.</p></blockquote><p></p>
[QUOTE="BobbyV, post: 4051206, member: 32629"] Why do Oklahoma politicians and other administrative types continue do junk like this? [URL unfurl="true"]https://www.readfrontier.org/stories/state-retirement-system-says-oklahoma-fossil-fuel-blacklist-could-cost-retirees-millions/[/URL] Under Oklahoma’s Energy Discrimination Elimination Act, public retirement systems are banned from doing business with companies on a state blacklist for those accused of boycotting the fossil fuel industry. A law prohibiting Oklahoma public retirement systems from investing and contracting with financial companies accused of boycotting the fossil fuels industry could cost the state’s second-largest pension fund at least $9.7 million. The Oklahoma Public Employees Retirement System is the first to release an estimate for how much it might cost retirees to shed investments from blacklisted companies. And the cost could be much higher after other trading costs are factored in, the retirement system’s chief financial officer warned Thursday. [/QUOTE]
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Oklahoma fossil fuel blacklist could cost retirees millions
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