NY State Teachers Union Harms Pensioners by Divesting Fossil Fuels
We hope the current and future teachers who get a pension from the New York State Teachers’ Retirement System enjoy getting less money in their golden years. Pension payments for teachers are about to go DOWN because the people managing their retirement investments have decided to divest from fossil fuel companies. Translation: The Retirement System portfolio will take a major financial hit (i.e. won’t be as profitable). The Retirement System is about to flush pension money right down the toilet.
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Today, right now, the #1 source of electricity produced in the so-called Empire State is…(drum roll please)…natural gas. By 2040 the state says natural gas will produce zero electricity and the number one source to produce electricity will be huge, ugly, noisy, environmentally-damaging windmills–both onshore and offshore. We plan to be around in 20 years just to laugh and say “we told you so” that such a plan is a pure (and dangerous) fantasy. Yesterday the state’s power management grid, called NYISO (New York Independent System Operator, Inc.) held an Installed Capacity and Market Issues Working Group meeting. From a question asked about the state recently denying permits to upgrade natgas-fired power plants, it was obvious NYISO members don’t have a clue how they will generate enough electricity to keep the lights on in 20 years’ time.
New York Gov. Andrew Cuomo and his successor Kathy Hochul have blocked new natural gas pipelines from the “fracked gas” fields of neighboring Pennsylvania. They seem to be congenitally allergic to fossil fuels. Haters of natural gas. Cuomo also hates nuclear energy. He insisted on shutting down the Indian Point nuclear power plant that once provided 25% of New York City’s electricity. All that juice has to come from somewhere. Thus far, one type of energy is standing in the gap to increase electricity production and prevent mass blackouts: natural gas-fired power plants.
Our new governor in New York is just as corrupt as the old one. Some things never change. The New York Dept. of Environmental Conservation (DEC), instead of being an independent, science-based organization, is nothing more than a political tool for whoever sits in the Governor’s Mansion. Current Gov. Kathy Hochul instructed the DEC to reject issuing air permits for two badly-needed natural gas-fired power plants, one in Queens and one in Newburgh. The reason for rejecting the permits? The state’s recently passed “the sky is falling because of man-made global warming” law, misnamed the Climate Community Protection Act (CCPA).
The New York State Dept. of Environmental Conservation (DEC), completely corrupted by radicals under the thumb of outgoing Gov. Andrew Cuomo, has struck again. The DEC has filed a letter with the Federal Energy Regulatory Commission (FERC) blasting a plan to boost capacity at two existing compressor stations along the Iroquois Gas Transmission System pipeline. DEC says more natural gas flowing along the pipeline (desperately needed in both New York City and in New England) will cause more mythical global warming and therefore FERC should reject the request. How sad. How intellectually bankrupt.
The price of electricity and natural gas in New York State is through the roof. Average New York Independent System Operator (NYISO) power prices across major hubs increased by 50% year over year in May, and natural gas prices increased nearly 75% year over year. It’s a train wreck here in New York. And you can directly blame Andrew Cuomo and the Democrats in the NY legislature for blocking new natural gas pipelines. That’s the root cause. No pipelines = obscenely high prices for electricity and gas.
For those of us unfortunate enough to live in New York State, we’re already screwed with a corrupt governor large and still in charge (even though his actions led to thousands of COVID deaths in nursing homes and even though he’s a sexual predator). The screwing (pun intended) continues. There are bills in both the NY Assembly and Senate that aim to increase the tax on gasoline in the state by $0.55 per gallon! In addition, the bills would increase the tax on natural gas that end users pay–those who use it to heat and cook with, residences and businesses–by an extra 26%!! Translation: Move out of NY while you still can sell your house. And don’t forget to turn the lights off when you leave.
It’s now obvious to even the dullest person that Andrew Cuomo and his completely corrupted Dept. of Environmental Conservation has one mission in mind with respect to the state’s oil and gas industry: Kill it. It began when Cuomo first placed a moratorium, later a permanent ban on hydraulic fracturing in the state (see 
It should come as no surprise that a group of far-left “environmentalists” who belong to New York State’s Power Generation Advisory Panel is recommending to Lord Cuomo that the state simply ban and block any and all new natural gas-fired power generating plants from being built in the state. Why? Because they have a mental condition that causes them to irrationally hate fossil fuels, including natural gas. That’s the only explanation that makes sense. Why else would Americans (who supposedly love freedom) advocate for the unconstitutional action of blocking a legitimate and legal business?
Last week we brought you the earthshattering news of a resurrection–the resurrection of the Williams Northeast Supply Enhancement (NESE) pipeline project in the New York City area (see 
The vicious, relentless attacks on our freedoms and liberties in New York State continue. We can’t even catch our breath with the assaults coming so fast and furious. The latest salvo is by NY State Sen. Jessica Ramos (Democrat, East Elmhurst) who has proposed the Clean Futures Act (S.5939) which would not only ban the permitting and building of new natural gas-fired power plants throughout the state, it would also ban “the permitting of all new major facilities that burn fossil fuels, not just those that sell power to the energy grid.” In other words, any large office building, factory, etc. that gets built would not be able to heat with natural gas or fuel oil. New York is already closed for business, can you imagine the wholesale flight from the state should this Communist law get passed?
More than six years ago a group of landowners in Wayne County, Illinois sued the state for its refusal to grant permits to drill and frack in the New Albany Shale deposit. Over the years the case morphed and the plaintiff became Next Energy, LLC, which acquired the leases to explore and develop the shale under the landowners’ property. The huge news is that the U.S. Supreme Court has taken an active interest in the case and is demanding the Illinois Attorney General file a response to the case–a key indicator the Supremes are leaning toward hearing the case.