Biden War on Oil & Gas

Post Reply
ChuckGeb
Posts: 974
Joined: Thu Nov 21, 2013 2:46 pm

Biden War on Oil & Gas

Post by ChuckGeb »

Last week we learned of Biden’s Department of Labor rules that would allow environmental extremists to divert hundreds of billions of dollars of Americans’ pension savings into green energy programs to combat climate change. This is a clear violation of the fiduciary duty of pension managers not to put politics over the financial security of retirement savings.
The good news: HJ Res30 to end this pension raid passed the House and Senate – narrowly - earlier this week - and is now headed to Biden’s desk for signature. This would restore the Trump rule – which was: keep your paws off our pensions. (We have mentioned that the ESG funds severely underperformed in returns last year because of divesting in the hottest stocks of all – oil and gas companies like Chevron, Sweet 16, etc.)
Kudos to the only three Democrats in Congress who have any sense: Jared Golden of Maine in the House and Joe Manchin and Jon Tester in the Senate.
The bad news: Biden has said he will veto the bill. This would be Biden’s first veto.
In other words, he is putting the interests of his radical green agitators over the retirement security of blue-collar workers. Whatever happened to “Lunch Bucket Joe?”

It might help if EPG members in blue states would call their Congress(persons)men and let them know what you think of this BS.
Post Reply