Financial officers sent letter to banks last week pledging to take their money elsewhere if the financial institutions embrace corporate wokeism and prohibit financing to the fossil fuel industry.
This is a collective economic boycott.
The overarching objective of our actions will be to protect our states’ economies, jobs, and energy independence from these unwarranted attacks on our critical industries.
President Joe Biden has been aggressive in quickly curtailing oil and gas development as promised on the campaign trail.
Beyond the illegal suspension of new leases on federal land, the prohibition of new drilling sites on major untapped reserves, and higher fees in the pipeline for new energy exploration permits, however, it’s the administration’s pressure on Wall Street to refuse investment in the capital-intense industry that’s dealt the biggest blow to producers, spiking prices at the pump in the process.
Signatories to the letter putting banks on notice include chief financial officers from Arizona, Arkansas, Idaho, Louisiana, Missouri, Nebraska, North Dakota, South Carolina, South Dakota, Utah, Wyoming, Alabama, Texas and Kentucky, in addition to West Virginia.
Tennessee and Indiana. #17