Posted on 03/23/2016 5:03:41 PM PDT by Red in Blue PA
HOUSTON/NEW YORK (Reuters) - The Rockefeller Family Fund said on Wednesday it will divest from fossil fuels as quickly as possible and "eliminate holdings" of Exxon Mobil Corp , saying the oil company associated with the family fortune has misled the public about climate change risks.
Though only a sliver of the endowment's modest $130 million in assets is invested in fossil fuels, the move is notable because a century ago John D. Rockefeller Sr. made a fortune running Standard Oil, a precursor to Exxon Mobil. The charity said it will also divest from coal and Canadian oil sands.
Given the threat posed to the survival of human and natural ecosystems, "there is no sane rationale for companies to continue to explore for new sources of hydrocarbons," the Rockefeller Family Fund said.
(Excerpt) Read more at finance.yahoo.com ...
The irony is strong with this one...
Down to their last 130 million?
Weren’t they controlling billions a while ago?
A Smart nation has become a dumb nation.
Usually its the 3rd generation of a family business that causes fortunes to fail!!
How do you make America Great Again when the elite is dumber than whatever?
It’s a conspiracy—secret societies and aliens, you know.
Hey Trustees, if either you or the family is feeling guilty about having all this money just cut me a check. My intentions are good, I’m trying to help out!
Another demonstration that it only takes three generations to fritter away a great fortune.
The younger Marxist wing of the Rockefellers has finally taken over completely.
Just look at who the Rockefeller Foundation funds on the Left. It will make you barf, but it is serious money. That explains why groups funded from Leftist foundations have so much money to hire staff, print signs, organize the street rabble, send organizers around the country, and to get media attention.
Soros Foundation, Apollo Alliance, ACORN, Agape Foundation, Samuel Rubin Foundation, etc.
Check them out and cry for America.
I hear Solyndra shares are going for a song. They may want to look in that as a replacement investment.
Didn’t the Rothchilds supposedly do the same thing last year? I think I remember listening to a Dr. Jim Willie broadcast where he said that the Rothchilds had inside information on something that would make fossil fuels obsolete in the short term. I don’t remember exactly what it was, but I think the Russians/Chinese were on to some new invention.
George Soros is snapping it up.
Okay, just a short response to this.
David Rockefeller set up the Rockefeller Family Trust around 1972 for 997 Billion dollars (just under a Trillion).
John D Rockefeller sent geologists to a meeting in 1997 to classify petroleum as a fossil fuel. It may, or may not, be one.
When Standard Oil was broken up by the feds, Rockefeller retained control of the new oil companies.
Don’t you dare trust these people.
FYI most of these big foundations are completely independent of the families whose names they carry. They came into existence as tax dodges back before one had to pay income tax on unpaid loans. If you were rich and wanted your money to grow, but not be taxed, what you needed was a tax exempt charitable foundation. You put all of your assets into the foundation, hired a trusted lawyer to run it for you so it would appear to be independent from you, then you just borrowed from it whenever you wanted money. The problem with this arrangement is that there is no way to insure the foundation trustees will have the same relationship with your heirs. In fact, infiltrating and taking over these foundations was an important coup for the radical left. Regan closed the door on the unpaid loan tax dodge in the 1980’s. Now if you borrow money and don’t pay it back your are supposed to pay income tax on it. But we still have these monstrous legacy foundations hanging around providing funding for leftist projects.
And besides, the stock isn’t doing well.
Fiddlstix, well said by your grandfather!
If they really believe this, they should give away the entire family fortune immediately. No more endowment, no more cushy positions for the useless Rockefeller offspring. Get rid of all the money.
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