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Rockefellers, Heirs to an Oil Fortune, Will Divest Charity of Fossil Fuels
Posted on 9/22/14 at 2:39 pm
Posted on 9/22/14 at 2:39 pm
quote:
The family whose legendary wealth flowed from Standard Oil is planning to announce on Monday that its $860 million philanthropic organization, the Rockefeller Brothers Fund, is joining the divestment movement that began a couple years ago on college campuses.
The announcement, timed to precede Tuesday’s opening of the United Nations climate change summit meeting in New York City, is part of a broader and accelerating initiative.
In recent years, 180 institutions — including philanthropies, religious organizations, pension funds and local governments — as well as hundreds of wealthy individual investors have pledged to sell assets tied to fossil fuel companies from their portfolios and to invest in cleaner alternatives. In all, the groups have pledged to divest assets worth more than $50 billion from portfolios, and the individuals more than $1 billion, according to Arabella Advisors, a firm that consults with philanthropists and investors to use their resources to achieve social goals.
LINK
Good luck finding a similar ROI....but, honestly, I'm sure they, individually - outside of their charity, still have vast sums with various PE groups funding start-up Expl & Production companies.
This post was edited on 9/22/14 at 2:40 pm
8
Posted on 9/22/14 at 2:47 pm to cwill
Almost every pension plan, 401K, etc have oil related stocks in their funds. Why do liberals hate working people and old people?
Posted on 9/22/14 at 2:59 pm to ljhog
quote:
Why do liberals hate working people and old people?
Because they're much smarter than the working class, and in their minds the old people need to die off so Social Security and Medicare can be sustainable (and also due to population control).
Yet they're "useful idiots" come Election Day.
Posted on 9/22/14 at 3:03 pm to Quidam65
quote:
Because they're much smarter than the working class, and in their minds the old people need to die off so Social Security and Medicare can be sustainable (and also due to population control).
Yet they're "useful idiots" come Election Day.
Agree completely.
However, this isn't about "die off" or green energy IMO. All this tells me is that oil prices are likely to be in the $60/bbl or less range much more than the $100+ range over the next 10 years.
This post was edited on 9/22/14 at 3:03 pm
Posted on 9/22/14 at 3:04 pm to cwill
This is what makes me doubt there are ghosts...because I am pretty sure John D. would be haunting their dumbasses for this.
Posted on 9/22/14 at 3:11 pm to cwill
quote:
Good luck finding a similar ROI....but, honestly, I'm sure they, individually - outside of their charity, still have vast sums with various PE groups funding start-up Expl & Production companies.
I made the exact argument on facebook last night. It's real easy to make "social statements" inside of a charity organization. Tell me when they personally, with their personal investment funds, divest these companies, and then I'll pay attention.
Posted on 9/22/14 at 3:22 pm to LSU0358
quote:
All this tells me is that oil prices are likely to be in the $60/bbl or less range much more than the $100+ range over the next 10 years.
What do you see driving prices that low?
Posted on 9/22/14 at 3:25 pm to ljhog
There's so much money chasing O&G that this "defunding" movement won't have any value effect.
And to truly "defund" the fossil fuel industry they will need to divest themselves from the planet...It's all so stupid and transparently for show. "Hey look at me I'll pretend to care about mother earth so that the right people will like me."
And to truly "defund" the fossil fuel industry they will need to divest themselves from the planet...It's all so stupid and transparently for show. "Hey look at me I'll pretend to care about mother earth so that the right people will like me."
Posted on 9/22/14 at 3:47 pm to cwill
some of you sure seem to care a whole lot about other people's investment choices.
Posted on 9/22/14 at 3:49 pm to Draconian Sanctions
quote:
How many people issue statements about their "investment choices"?
Posted on 9/22/14 at 3:51 pm to Y.A. Tittle
lots of people, it's called the wall street journal
Posted on 9/22/14 at 3:52 pm to LSU0358
quote:
All this tells me is that oil prices are likely to be in the $60/bbl or less range much more than the $100+ range over the next 10 years.
Will you short some futures???
Posted on 9/22/14 at 3:53 pm to Draconian Sanctions
quote:
lots of people, it's called the wall street journal
Do what?
Posted on 9/22/14 at 3:57 pm to Y.A. Tittle
This is what happens when you have weak-arse inheritance silver-spoon trust fund bitches ... controlling money ... that they did not risk to get, earn, sweat, work, etc., to get.
F them.
I hope they end up like the Dukes.
F them.
I hope they end up like the Dukes.
Posted on 9/22/14 at 3:58 pm to navy
quote:
This is what happens when you have weak-arse inheritance silver-spoon trust fund bitches ... controlling money ... that they did not risk to get, earn, sweat, work, etc., to get.
F them.
sounds like you support hiking the estate tax
Posted on 9/22/14 at 4:06 pm to Draconian Sanctions
quote:
sounds like you support hiking the estate tax
Nope. Try again.
It's their money ... they can do what they want with it.
But ... if they decide to be little bitches about it ... then I reserve the right to mock them and call them bitch-made punks.
Posted on 9/22/14 at 4:06 pm to cwill
Continuing increase in US shale oil and demand stabilization world wide.
Posted on 9/22/14 at 4:08 pm to Strannix
If the opportunity presents itself with a nice risk/reward for the trade, absolutely.
Posted on 9/22/14 at 4:33 pm to cwill
They should invest in hydrogen/electric cars.
Solyndra is looking for investors
Solyndra is looking for investors
Posted on 9/22/14 at 5:06 pm to cwill
quote:
And to truly "defund" the fossil fuel industry they will need to divest themselves from the planet...It's all so stupid and transparently for show.
Those who truly believe our Earth is overpopulated, should be the first to turn words into actions, and off themselves for the good of Mother Gaia.
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