NY State Retirement Fund Invests More Money in Fracking Co.

We found this story illustrative of the rank hypocrisy so prevalent in our beloved home state of New York. Even the most cursory follower of shale energy knows that our corrupt governor, Andrew Cuomo, decided to ban shale fracking in the Empire State in 2015 (see It’s Official: Cuomo Bans Economic Opportunity & Prosperity in NY). Since that time Cuomo has acted like the tin-pot, despot dictator he is, by moving to block pipelines coming into the state that carry fracked natural gas (see NY Gov. Cuomo Refuses to Grant Permits for Constitution Pipeline and Cuomo’s Corrupt NY DEC Blocks NFG Northern Access Pipeline Permit). Cuomo recently lost one such battle, attempting to block a 7.8 mile pipeline from being built to a gas-fired electric plant in Orange County (see Millennium Begins Building 7.8 Mile Pipeline in Orange County, NY). Instead of using evil, filthy, vile “fossil fuels” like natural gas, Cuomo prefers to shower billions to his friends who promise they will bring solar and wind to the state. Cuomo has implemented a policy that demands 50% of New York’s electric supplies come from solar and wind by 2030–a delusional fantasy. The New York State Common Retirement Fund is the state’s ginormous pension fund for state workers (including public school teachers)–with some $140 billion of investments. Anti-drilling New York State Comptroller Thomas DiNapoli is the sole trustee in control of the fund, overseeing its investments. The fund invests in plenty of oil and gas companies–i.e. frackers–which we were once again reminded of when spotting a news clip that the Fund has just increased its holdings in PDC Energy–a shale fracker…

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