Texas’ Chief Oil and Gas Regulator Pens Letter to State Pension Fund Agency Over Anti-Fossil Fuel Investment VoteMay 04, 2022
AUSTIN – Railroad Commission Chairman Wayne Christian penned a letter to the Employees Retirement System of Texas (ERS) regarding reports of a vote on a shareholder resolution to divest investment from fossil fuels.
“The reports that a Texas state agency has – accidentally or intentionally – allowed woke activists to harm the investment and retirement portfolios of our constituents as collateral damage in their war against fossil fuels are extremely troubling,” said Christian. “The Texas Legislature was clear with the passage of SB 13 last session that this is not the way Texas does business. ESG investing is harmful to our state economy, the reliability of our grid, and energy independence efforts that bolster national security. It has no place in Texas.”
You can read the letter here.
About the Railroad Commission:
Our mission is to serve Texas by our stewardship of natural resources and the environment, our concern for personal and community safety, and our support of enhanced development and economic vitality for the benefit of Texans. The Commission has a long and proud history of service to both Texas and to the nation, including almost 100 years regulating the oil and gas industry. The Commission also has jurisdiction over alternative fuels safety, natural gas utilities, surface mining and intrastate pipelines. Established in 1891, the Railroad Commission of Texas is the oldest regulatory agency in the state. To learn more, please visit http://www.rrc.texas.gov/about-us/.