Texas State Board of Education Chairman Aaron Kinsey shared this Fox news On Tuesday, the state will exit an $8.5 billion investment with global investment firm BlackRock over its ruthless promotion of ESG (environmental, social and governance) guidelines.
The money would come from the Texas Permanent School Fund (PSF), an endowment fund for the state’s public schools that has existed since 1854.
However, the PSF is now citing a 2021 Texas state law that prohibits the government from doing business with financial institutions that promote anti-oil and anti-gas policies.
“The Texas Permanent School Fund has a fiduciary duty to protect Texas schools by safeguarding and growing the approximately $1 billion in annual oil and gas royalties administered by the Texas General Land Office,” Kinsey explained. “Terminating BlackRock’s contract ensures PSF is in full compliance with Texas law.”
He continued:
“BlackRock’s dominant and continued leadership in the ESG movement is doing immeasurable damage to our state’s oil and gas economy and to the companies that generate revenue for our PSF. Texas and the PSF have worked hard to grow this fund to build Texas schools. BlackRock’s destructive approach toward the energy companies on which this state and our world depend is inconsistent with our fiduciary duty to Texans.
Essentially, globalist-controlled groups like BlackRock are using their financial influence to force America to stop investing in traditional energy industries and instead invest in “green energy” technologies pushed by the WEF, WHO, and others -chosen NWO operations.
Of course, their cronies have already invested heavily in and are betting on these alternative energy technologies being foisted on the public so that they can make huge profits, regardless of whether the technology is actually superior and better for the environment than current technology.
The decision in Texas was widely celebrated online: