2-29-16 – Punishing Exxon Mobil

by JohnMcClaughry

The Vermont House last Friday adopted one of the most disgraceful resolutions that I can remember (H Res 13). First off, it recites all over again the VPIRG gospel of climate change.

Then it condemned the coal industry in general, to back up Barack Obama’s carbon dioxide emission promises made at the Paris climate conference. But then it went on to urge the Treasurer to divest the retirement funds of all Exxon Mobil stock – not BP, Citgo, Gulf, Irving or Sunoco, just Exxon Mobil.

Why just Exxon Mobil? The resolution reads “Whereas, …the California and New York Attorney Generals are investigating the company for deliberately misleading the public and investors about the risks of climate change.”

This refers to a climate change witch hunt by two ambitious Democratic state attorneys general, who want to be the first to find wrongdoing by the world’s largest publicly traded gas and oil company.

The climate change left has become infuriated with the idea that Exxon Mobil might not agree with their idea of the supposed consensus among scientists that continuing carbon combustion will lead to catastrophic results. So they want Exxon Mobil punished now, even though the politically motivated investigations haven’t turned up anything and most likely won’t.

The Republicans tried vainly to protect the retirements of teachers and state employees from this political disinvestment, but as usual were outvoted 76-57.

Anyone who understands science and believes in due process ought to gag on this shameful stunt.

John McClaughry is the founder and vice president of the Ethan Allen Institute. 

 

{ 2 comments… read them below or add one }

Brenda Degreenia March 1, 2016 at 3:43 am

If they do this where are they going to find the money to make up the difference in retirement funds? Oh, wait, they will just invent another tax for everyone who can not afford it, to say nothing about us poor fools that can not even afford food.Is there no one in gov’t with any common sense anymore?

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H. Brooke Paige March 1, 2016 at 3:36 pm

Symbolism over Substance – This is what happens when we place wild eyed idealists in control of the levers of the governmental machinery. We have the same chances of these folks being correct as we have of knowing what time it is by relying on a stopped clock – 2 in 1440.

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