‘Un-American’: Republican State Financial Officers Call For Banks To Stop Catering To Biden’s Coal and Oil Policies
Led by West Virginia Treasurer Riley Moore, 16 Republican state financial officers have banded together to fight bank boycotts against the oil and coal industry.
“I’m proud to continue to stand with my colleagues against these attacks on our states’ coal, oil and natural gas industries,” Moore said. “These industries – which are engaged in perfectly legal activities – provide jobs, paychecks and benefits to thousands of hard-working families in our states and we will not stand idly by and allow our peoples’ livelihoods to be destroyed to advance a radical social agenda.”
In a letter to U.S. banking institutions, the financial officers announced that they would “be taking collective action in response to the ongoing and growing economic boycott of traditional energy production industries by U.S. financial institutions.”
The goal of the action would be to “protect our states’ economies, jobs, and energy independence from these unwarranted attacks on our critical industries.”
Fourteen Republican state treasurers signed on, including the treasures of Arizona, Arkansas, and Alabama. The Republican comptroller of Texas and Utah state auditor also signed on to the letter.
The letter specifically called out the Biden administration’s efforts to move toward the end of the coal and oil industries.
“The Biden Administration has resumed these attacks by attempting to ban energy exploration on public lands and reportedly pressuring U.S. banks and financial institutions to limit, encumber, or outright refuse financing for traditional energy production companies,” the financial officers wrote.
They also cited Biden’s plan to stop financing traditional energy projects internationally. The Republicans argued that this move aided “Chinese interests” and led the U.S to be dependent on other countries for energy.
The letter continues, “For the reasons stated above, we will each take concrete steps within our respective authority to select financial institutions that support a free market and are not engaged in harmful fossil fuel industry boycotts for our states’ financial services contracts.”
One step mentioned was that certain states will make sure that banks they are working with will not be boycotting the oil and gas industry.
In a press release announcing the coalition, Moore pinned much of the blame for banking’s aversions to the oil and gas industry on “woke capitalists” and “globalist actors.”
“Woke capitalists and globalist actors have been using the guise of climate change to press for anti-American reforms that reduce our country’s competitiveness against hostile nations like Russia and China,” he said. “As a result, in less than a year
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
