Judge Allows Claim That Large Investors Conspired To Drive Up Coal, Energy Costs

CowboyStateDaily ^ | 8/22/25 | Clair McFarland

[CFW]

Wyoming and 10 other states’ claims that giant investment companies conspired to drive coal production down and drive prices up — increasing people’s energy costs — are at least plausible enough to keep a lawsuit alive, a judge has ruled.

Wyoming filed suit in the U.S. District Court of Eastern Texas in late November against Blackrock Inc., State Street Corp. and Vanguard Group Inc.

Texas Attorney General Ken Paxton led the litigation. Alabama, Arkansas, Indiana, Iowa, Kansas, Missouri, Montana, Nebraska, West Virginia and Wyoming also signed the complaint.

The states allege the three massive investment companies acquired substantial stockholdings in every significant publicly held coal producer in the U.S., then agreed to use their holdings to influence those companies and artificially depress the output of coal.

“Defendants allegedly did so in the name of ‘environmental stewardship’ and ‘concern for the climate,’” recounted U.S. District Court Judge Jeremy D. Kernodle in an Aug. 1 order. “The result, Plaintiffs assert, is that ‘Defendants have reaped the rewards of higher returns, higher fees, and higher profits, while American consumers have paid the price in higher utility bills and higher costs.’”

[Robert A Cook PE]

Funny. I named two of those three “investment companies” before finishing the sentence.

Blackrock owes a majority of Cracker Barrel too.

[Nomad577]

Now they should look into how large investment companies conspired to raise housing/real estate costs

Or how food monopolies conspired to raise grocery costs

[unclebankster]

The “war on coal” at the highest levels of finance.

Which doesn’t surprise me, since every company I research wants a green label and can’t wait to tell me how DEI they are.

[Tell It Right]

I think they should look at how much these investment companies donated to the Dims and their warmageddon doomsday cult policies to restrict mining for coal and drilling for oil and natural gas (at least until it's near election).

The Dims always say they hate Big Coal and Big Oil, yet the Dims always institute policies that allow those companies to make more money producing less product.

[Secret Agent Man]

Maybe, maybe not.

One thing I KNOW is that fedgov conspired to force everyone’s energy prices up by demanding only low sulfur coal be used at power plants. If anyone should be blamed fedgov must be part of those blamed.

[Worldtraveler once upon a time]

"Blackrock Inc., State Street Corp. and Vanguard Group Inc."

The names also crop up in regard to the Ukraine-Russia war, the Israeli-Hamas conflict, the color revolutions in some faraway places, as well as in these United States.

Personally I think we are awash in "messaging" intent on market manipulation and more. Daily.

Add to the names Kopernik Global Investors, BNP Asset Management Holding, Goldman Sachs-owned NN Investment Partners Holdings, and Norges Bank Investment Management, NCH Capital and some others less well known.

[CFW]

No matter what stock you own, go look at the main institutional stock holders. Black Rock, State Street, and Vanguard are almost always there in the top 5 or 6.

[blitz128]

Uh, does that include the democrat party, who almost single handed has nearly destroyed the coal industry?🤔

[Mr. Lucky]

Blackrock owns 14.52% of Cracker Barrel

[GailA]

Crooked judge.