Posted on 11/22/2021 1:26:21 PM PST by Oldeconomybuyer
BOSTON (AP) — Boston Mayor Michelle Wu signed an ordinance Monday designed to divest the city from fossil fuels.
The ordinance will prohibit the use of public funds from being invested in the stocks, securities or other obligations of any company that derives more than 15% of its revenue from fossil fuels.
The ordinance also extends to companies deriving more than 15% of revenue from tobacco products or private prison industries.
Wu, a former city councilor sworn in as mayor last week, said the move is the culmination of a yearslong push to distance Boston from the fossil fuels that are helping drive the climate change that is threatening the coastal city.
“This is deeply personal for many of us and urgent,” Wu said during a signing ceremony at Boston City Hall. “My older son Blaise was born in the first year they I served in this building and the first year that we started to hear it was the hottest year ever on record. Since then, his six years alive on this planet have each been our hottest on record.
“We’re moving quickly to make sure that Boston will set the tone for what is possible for that brightest greenest future for all of our kids,” Wu added.
The ordinance will pull $65 million immediately out of the fossil fuel industry, said Boston City Councilor Lydia Edwards, a supporter of the ordinance. The measure was unanimously approved by the Boston City Council last week.
(Excerpt) Read more at apnews.com ...
Yeah, this is going to end well.
All for show. If she were serious she’d eliminate petroleum as a fuel for any government vehicle and only use energy for government buildings from that wind farm in the Nantucket Sound.
IOW the serf only allowed short range electric cars so they can not escape the clutches of the bureaucrats
Immediately stop all petroleum deliveries to Boston.
Make them walk the walk.
As the late, great Bob Grant said many times: “It’s sick out there and getting sicker.”
The City needs to defuel all municipal vehicles.
Why go half way? Close all the gasoline stations, shut off all the natural gas lines, and forbid the sale of heating oil in Boston.
L
My take is that it’s stupid out there and getting stupider
Dis BP, Shell, Chevron. Exxon/Mobil announce they are Halting All deliver4ies and Sales to the Boston Region to help them with thier endeavor???
I can’t wait until I in charge, I would pass an ordinance banning companies deriving more than 15% of revenue from Government Bonds.
DIVEST FOR REAL YOU FAKE!! IMBECILES UNITED AGAINST DINOS DEMAND NO gasoline, heating oil, lubricants, plastics BE ALLOWED WITH CITY LIMITS.
The city should stop buying from those firms as well.
What about the dreadful CITGO sign…..often shown
in the many pics of Fenway Park….should have been gone years ago.
.
You have to hand it to China...they are masters at exploiting our gormless big city voters.
Easy champ. I live here. I drive a Dodge Hemi. I ❤️ fossil fuel.
More pathetic and ignorant virtue signaling.
Well why not just end the use of fossil fuels period?
I mean, come on
Then, when investment shortfalls impact the pension funds, well...Uncle Sam will bail them out, won’t he?
These people make me want to spit, and I live here.
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