Oklahoma State Penning Master Increases concern about legislation He says that the door could open further for the controversial practice of “environment, social and administration” in the deep red state.
Senate Bill 714 would amend the energy discrimination law of 2022 to remove the “Enforcement Authority” of the treasurer of the law and to give it to the office of the attorney general.
The treasurer keeps a list of different banks that cannot do business with the State government of Oklahoma If the institution has publicly opposed oil and gas companies.
Critics claim that the formulation in legislation would lower the standards that are necessary for an institution to be on the list and how agencies enforce them.
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The BlackRock logo outside its offices in New York City. (Reuters/Brendan McDermid/File photo)
“The bill removes the treasurer from the supervision of the investment behavior of major financial institutions and proposes to place it under the office of the attorney general,” said the treasurer of the state of Oklahoma, Todd Russ, Fox News Digital with regard to Senate Bill 714.
“As a constitutional officer in the treasurer of the state in Oklahoma, why would you want someone who does not have the constitutional commitment and obligation to supervise the financial investments and things of the state to be under the treasury and to move to another constitutional office?” He went on.
The Statten Act of 2022 is confronted with “continuous” legal challenges, which makes fate unclear. The law is intended to avoid settings that some leaders see because they harm the state Energy industry.
“Over the years, those subjects have been very politized. I mean, it’s not a financial issue. It is a social agenda that they have woven into the investments,” said Russ van Esg.
“The state of Oklahoma does not try to get to the other side of that behavior. We try to take a position to say,” Look, stay out of the political arena with my investments. Our investments. ” We are only worried about the financial performance and profit of our investment, and we do not want external people to use it for political leverage.
Republican Wyoming Gov. Mark Gordon discouraged increased expenses because oil and gas income and a budget surplus leave the state in an optimal financial status. (AP Photo/J. David Ake, File)
Fox company In 2023, Russ’s list was the result of questions about Energie -Appraisal practices to numerous banks, and forbids the banks to take on the list of participation in important state investments such as pension funds.
The office of the Attorney General Gentner Drummond van Oklahoma said: “This bill is only necessary because of the gloomy failure of the treasurer to successfully defend the Oklahoma Energy Discrimination Act of 2022. That was the real blow in the face of the oil and gas industry.
“The law prohibits state contracts and investments in pension systems with financial institutions that discriminate against the oil and gas industry.”
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An oil worker walks to a drilling installation after placing ground monitoring equipment near the underground horizontal exercise in Loving County, Texas. (Reuters/Angus Mordant)
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Republican state Senator Dave Rander, the sponsor of the bill, told Fox News Digital in an e -mail that he plans to make some changes to the legislation, including “the definition of Boycott Energy Company further clarify to vote for shareholders proposals that of the word of the word of the word of the word of the word of the word of the word of the word of the word of the word of the word of the word of the word of the word. Pro-ESG promotion is not permitted (s) the absorption of transaction costs when determining a loss that could probably remain the rejection for an indefinite period of time. ”
However, the proposed changes of Rader in the E -mail have not yet been made officially, according to the website of the state legislator of the state of Oklahoma, where the legislative text is shown.
The legislation should vote in the entire Senate on 27 March before he may be on his way to the Staatshuis of representatives.
