Ecocentric

The Next Frontier for Climate Activism: College Investments

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350.org / Ed Kosmicki

Bill McKibben at the University of Utah in Salt Lake City, Dec. 3, 2012. McKibben and his allies are pushing colleges to divest from any fossil fuel stocks.

Climate activists need to take their victories where they can. There was little success to celebrate at the U.N. climate summit in Doha, Qatar, which concluded over the weekend. Delegates agreed to extend the expiring Kyoto Protocol by a few years — albeit without the participation of previous signatories like Japan and Russia, which really left only Australia and most of the developed economies of Europe. The U.S. — which never ratified Kyoto to begin with — offered little on its own, and developed nations put off resolving a debate over the promise of providing tens of billions in climate aid to poor nations. Delegates agreed to finalize a new, wider global pact on climate change by 2015 that would take effect by 2020 — but furnished no real details on what that agreement would actually do. Even by the low standards of the U.N. climate process, Doha was a disappointment.

That’s one reason climate activists are focusing their efforts closer to home — particularly on America’s colleges and universities. Thanks to the efforts of the writer turned activist Bill McKibben‘s 350.org, students at schools around the country are pushing university administrators to sell off any investments in fossil fuel companies from collegiate endowment funds. The strategy is called divestment, and if it sounds familiar, it’s because student activists used the same method — mostly successfully — to push universities to stop investing in apartheid-era South Africa during the 1980s. One school, Unity College in Maine, has already taken action to dump its fossil fuel investments, and the campaign is active in more than 150 other U.S. colleges and universities. “In the near future, the political tide will turn and the public will demand action on climate change,” wrote Stephen Mulkey, the Unity College president, in a letter to other college administrators. “Our students are already demanding action, and we must not ignore them.”

(MORE: Why Global Fuel Prices Will Spark the Next Revolutions)

The money at stake in the divestment fight could be significant: colleges and universities have endowments worth more than $400 billion, depending on fluctuations in the market. While there’s no way of knowing how much of that goes to fossil fuel companies like Exxon or Shell, those firms do represent a large portion of the stock market, representing nearly 10% of the value of the Russell 3000, a broad index of 3,000 American companies.

But the divestment fight is less about money than it is about the moral status of the fossil fuel industry. By calling on universities to divest themselves of oil, gas and coal companies, student activists are trying to draw an equivalency between a what is now a widely-acknowledged social evil — an apartheid regime — and a fossil fuel industry that sells the products that are chiefly responsible for manmade global warming. To McKibben and his allies, the fossil fuel industry is the new tobacco — and should be treated as such, as he told the Huffington Post in a recent interview:

Our criteria is that it’s okay to invest in companies so long as they stop lobbying in Washington, stop exploring for new hydrocarbons, and sit down with every one else to plan to keep 80 percent of the reserves in the ground. We just need to change the power balance. They’re making so much money. The popular notion is that Americans are addicted to fossil fuels but I find that’s not true; most people would be happy to power their lives with anything else. The addicts are the big fossil fuel companies that are just fatally addicted to the level of profit they are able to deduce. They can’t help themselves you know — so we’re going to have help them.

(MORE: The New Oil and Gas Boom)

While Unity College has led the way on divestment, so far there’s little evidence that other colleges and universities are eager to follow suit, though some institutions like Tufts University in Massachusetts are at least considering calls for divestment. No school with an endowment greater than $1 billion has agreed to divest so far, and Harvard University — which has the nation’s largest endowment at $31 billion and happens to be McKibben’s alma mater — has said that it won’t divest, even though 72% of Harvard undergraduates voting in recent campus elections supported a call to ask the school to do so.

In some ways it’s not completely fair for student activists to focus on the fossil-fuel investments of their schools, given that colleges and universities are doing more to combat climate change and go green than just about any other institution in the country. More than 600 U.S. schools are part of the American College and University Presidents’ Climate Commitment, under which signatories agree to complete a greenhouse gas emissions inventory and take immediate steps to reduce carbon output. But at the same time, American universities aren’t shy about holding themselves to a still-higher standard when it comes to progressive causes — and for many college students today, there’s no cause greater than fighting climate change. University presidents who don’t fall in line should get used to hearing protests outside their offices. Just like their forerunners in the apartheid battles of the 1980s, these climate activists won’t stop until they win.

MORE: Climate Change: Polar Ice Sheets Melting Faster, Raising Sea Levels

37 comments
heidilovesmusic
heidilovesmusic

For those of you who agree with the idea of Divestment from fossil fuels please take a moment to click on the link below and sign the petition electronically. This will help the Weber State Environmental Club with their Divestment Campaign to get closer to their goal of needed signatures. Every name counts and I promise it will make you feel great when you can tell future generations your name helped at least one institution Divest from fossil fuels!

http://campaigns.gofossilfree.org/petitions/weber-state-university-2

emilylynnwilliams
emilylynnwilliams

Wonderful article, and I'm so happy that this issue is getting more publicity.

I personally want to respond to the comment that "so far there’s little evidence that other colleges and universities are eager to follow suit." My name is Emily Williams and I am a fourth-year environmental studies student at University of California, Santa Barbara. Though our campaign is still in what some people would term as the "baby stages," we're making progress. We are already in conversation with the decision makers of the school (our Board of Trustees), who are surprisingly interested in the campaign. 

The UC's are currently rallying and organizing amongst themselves so that we can create movement together which would not only convince one school to divest, but the whole UC system. While it is true that "no school with an endowment greater than $1 billion has agreed to divest so far," we have to understand that the larger the endowment, the longer the process. While we're not looking to tomorrow for complete divestment at the UC's, it's something to keep your eyes out for in the long term. With total assets upwards of $74 billion, I think we'd make quite a splash.

BenBreger
BenBreger

Great article and shout out to all the other Northeast schools demanding divestment.

Bates College is running an active divestment campaign led by students in the club Bates Energy Action Movement (BEAM). We have met with our Trustees and President, working with them rather than against, and we have goals for next semester of determining how much money we have invested in fossil fuels and the most appropriate timeline for divestment to occur.

Batesies hold dear our cherished history as being founded by Abolitionists and being one of the first schools to accept women. We call on Bates to once again be a leader in the most pertinent issue for the student generation and for generations to come - anthropogenic climate change. The shift towards sustainability can not come soon enough. Fossil fuel companies must keep 80% of their reserves below ground to ensure we have a liveable future, below 2 degrees of warming.

We do not hope to damage the fossil fuel companies by divesting but to symbolically revoke their 'social license' and redraw the line in the sand for what's morally acceptable for Bates to be profiting from. This will serve as the catalyst for political action once the most elite institutions in the world begin denouncing these greedy companies.

Please like our facebook page: https://www.facebook.com/FossilFreeBates

arhasz
arhasz

Missouri students are preparing to launch a statewide push for fossil fuel divestment this January.  Already, students from Washington University in St. Louis and Webster University are organizing campaigns, and students are building power to take on the entire four-campus Missouri University system.  We are planning a large retreat for 10+ campuses in late January to formally launch this statewide campaign.  While Missouri is not usually a leader in progressive issues or sustainability, we believe that student organizing efforts can change the political conversation in Missouri and move our whole state forward towards bold action on climate change.

ashterix21
ashterix21

Equating companies producing fossil fuel with apartheid-era companies?? This is an example of the heart being in the right place leading to wrong action. These companies themselves are only satisfying demand. Demand that in the end comes from you and me; in a direct and indirect manner. Lets say you choke off all investments to all coal, oil and gas producing companies. You then have drop-off in supplies of all fossil fuels. You think that is a good scenario for any of us?? Renewable, carbon-free energy on a large-scale is NOT proven as yet. It is mostly uneconomical without government subsidies and the EROEI throughout the cycle are probably too low with current technology. The renewable space MIGHT deliver in the distant future, but its not a given. Producing the supplies is not evil. Consuming and demanding is. The can of soft drink that the students hold in their hand while demanding the endowments change is the evil, given the energy consumption of aluminum production. Hankering to drive around is the evil. If we dont change our demand pattern, support efficiency and ,maybe, even willing to live poorer lifestyles; we have no case to make us against someone supplying our needs.

KevinGilbertMauer
KevinGilbertMauer

Students at the University of Wisconsin-Madison recently delivered over 1200 petition signatures to our endowment, and we have scheduled a meeting with the endowment's president. We support the UW Foundation's commitment to fulfilling its fiduciary responsibility, but affirm that that responsibility extends to ethical stewardship of university funds. It is immoral for the University to be in bed with an industry that jeopardizes our future. For updates on our campaign, please visit www.facebook.com/350UofWisconsin

BenBreger
BenBreger

Bates College has been working on a divestment campaign since last year, this is a great article and we really appreciate the national news coverage. We are working with, rather than against, our administration to come to consensus about the most responsible way for our school to carry out divestment from the fossil fuel industry without harming our endowment. We hope to organize an alumni giving campaign centered around a greener endowment that celebrates the incredible step forward taken by Bates if we decide to divest. It's been an incredible learning experience being part of this national campaign as it has grown from 7 schools when we started to over 150! 

AndrewNguyen
AndrewNguyen

At Brandeis University, we too have been working on a divestment campaign (facebook.com/divestbrandeis). We are members of a regional climate-action group known as Students for a Just and Stable Future (http://justandstable.org/). We hope to hold Brandeis University to its commitment to social justice and make sure it puts rhetoric into practice. 

KJochim
KJochim

At Johns Hopkins University, we have started a divestment campaign called Refuel Our Future (www.refuelourfuture.org).  The more we have studied the environment and its effect on our health, the more we have realized that continuing with our fossil fuel status quo is a recipe for disaster.  

We are extremely concerned about the terrible health effects of climate change: increased respiratory illness, increased cardiovascular disease, increased rates of infectious diseases (like West Nile Virus and Lyme Disease), increased mental illness with more displacement from sea water rise and storm surges, among other disasters.  In addition, a greater incidence of droughts and flooding will cause increased famine and decreased supplies of fresh water.

We are organizing the undergraduate and graduate campuses at Johns Hopkins in this divestment campaign and are in the process of collecting 1000 signatures that we will present to the president of our university.  Follow our progress at www.refuelourfuture.org.

EarlhamREInvestment
EarlhamREInvestment

Here at Earlham College, we have been working on a coal divestment campaign for the past year. Our campaign is called REInvestment - short for Responsible Energy Investment campaign - because our goal is not only divestment from dirty coal companies, but reinvestment in viable, socially-responsible alternatives. Last year, we collected petition signatures from 46% of our student body, met with administrators, and spent countless hours researching stocks and trying to build a solid understanding of the turf we are working on. This year, we've continued to meet with powers-that-be and expand our knowledge base. We've gained allies in faculty from numerous departments at our school, not to mention the incredible support we've seen recently from Earlham alumni.

We are currently in the process of drafting a formal proposal - which means even more research and consulting knowledgeable allies. We're serious about this, and we're not going to back down until we see Earlham divested from the coal industry, so we're going to make sure that the proposal we present is as accurate, realistic, and compelling as we can make it.

When we started our campaign last December, we were one of just a handful of schools working on similar campaigns. Now, unbelievably, there are over a hundred. It has been so incredible and inspiring to watch this movement go viral, and to see all the incredible energy, creativity, and determination coming from students around the country. We're proud to be a part of this.

To follow our progress or get more info, check us out on Facebook: https://www.facebook.com/EarlhamREInvestment?ref=hl

mmilesgoodrich
mmilesgoodrich

We students at Bowdoin College recognize that climate change is the great existential crisis of our generation.  It is no longer sufficient to simply believe in global warming--we have to do something about it as well.  That's why students are calling on Bowdoin's administration to take a stand and divest from the fossil fuel companies that are actively involved in destroying our future, buying off our democracy, and preventing the clean energy revolution.  Organizers here have collected petitions from 25% of the student body in support of divestment and transitioning to a fossil free campus.  We've met with our president and I've responded to his objects here: http://gofossilfree.org/students-to-stay-true-to-its-mission-bowdoin-must-divest/

Learn more about our campaign: http://www.facebook.com/BowdoinCarbonNeutralCarbonFree

Deirdre
Deirdre

I'm working with dozens of campuses across the west coast! Washington, Oregon, and California student leaders are building a movement to divest the west, in coalition with students nationwide. It's huge - these students will strip the fossil fuel industry of their social license to destroy our planet. Pictures are rolling into flickr (below) from students delivering request to divest letters to their campus presidents! We only getting started...http://www.flickr.com/photos/350org/sets/72157632022104572/

virginiailda
virginiailda

This is an issue that will not disappear.  It will only grow bigger and bigger.  Students are used to hearing from those older that we are the future.  And we are.  This is our future and we will not let the decisions of those older than us compromise the type of life we get to lead.  It is our time to stand up, unite and take charge of the world we want to live in.  This is just the beginning.

rmh
rmh

"for many college students today, there's no greater cause today than fighting climate change."

I would argue that for anyone and everyone, there's no greater cause today than fighting climate change. Students have a very real and visceral sense of its importance because it's their future that will feel the full effects of climate change if we don't take serious action now.

And it's true, on the whole universities are more forward-thinking on climate change, relative to other societal institutions, but that's not necessarily saying a lot. In terms of tackling colleges tackling climate change, taking a strong moral stand against the companies that have been spreading lies and misinformation on climate and are polluting our political process is far more important than campus-level sustainability efforts. Colleges and universities, as centers of learning and the dissemination of knowledge and ideas, can take the lead in a way few other (perhaps no other) institutions can, and they should fully take advantage of this unique capacity to lead our country into a serious discussion about climate action. It's a tremendously important role to fill.

DivestHarvard
DivestHarvard

Students at Harvard are calling on the university to divest from the top 200 publicly-traded companies that own the majority of the world's carbon reserves and reinvest in socially responsible funds. Divest Harvard began this fall, and we have had an exciting semester. We gathered over 1,000 signatures from students, faculty, staff, and alumni in support of fossil fuel divestment. We held educational events, partnered with other students groups, and wrote articles for The Crimson, The Nation, and other media. We were also the first school in the nation to have a student vote on divestment. 72% of students who voted in the Undergraduate Council election supported fossil fuel divestment. This campaign has engaged students and brought global warming to the forefront of campus dialogue. At the beginning of next semester, we are meeting with the Corporation Committee on Shareholder Responsibility to present our campaign and discuss next steps towards divestment. Learn more at justandstable.org/divestharvard!

BenThompson
BenThompson

Divest BU (facebook.com/DivestBU) held an awesome event this weekend where we marked on campus where the sea level will rise to.  Sea level rise = tuition rise.  Buildings are really expensive!!!

AliRP
AliRP

Here at Swarthmore, we've been pushing for divestment for a little over two years, and we're incredibly excited to see the huge national energy rising around this issue now. Environmental justice and climate justice were a resounding silence in the election season, and have been ignored by the government for far too long. I'm glad that these issues are finally getting some attention, thanks to the hard work of students around the country in recent months, in addition to the work that communities on the frontlines of extraction and consumption of fossil fuels have been doing for decades to fight the destruction of their homes and communities.

To find out more about our campaign, check out swatmountainjustice.wordpress.com

sboss91
sboss91

Students at UNC Chapel Hill have been pushing divestment from coal for the last year and a half. The movement has exploded since then to 150+ campuses and all fossil fuels -- hard to remember when there was a bigger national student activist movement. Our administrators have been overall dismissive. But the movement has reached a critical mass that will start to see victories in other places around the country and create a domino effect. Thanks to TIME for covering -- keep it up! http://www.dailytarheel.com/article/2012/12/50bc104f92363

Agent350
Agent350

It's amazing to see how fast this movement has spread to campuses across the country. One of the other exciting pieces about divestment is the way that can help build the case for political action on climate. First, divestment helps take away the social license of the fossil fuel industry, weakening their power in DC -- once Big Oil becomes more like Big Tobacco, members of Congress may think twice about taking their money. Second, a national divestment campaign helps activate a new generation of student activists, who can take the work off-campus in the 2014 election (and before). Just like the anti-apartheid movement, divestment is a strategy that can achieve multiple goals at the same time. 

KazzimZongo
KazzimZongo

Activists are very fond of spending other people's money, I find.

DanielFerra
DanielFerra

Hello, we need a National Feed in Tariff, for Solar, Wind, with laws that level the playing field, this petition starts with homeowners in California. Japan, Germany, and our state of Hawaii, will pay residents between 21- 54 cents per kilowatt hour, here in California they will pay us 5 cents per kilowatt hour, and they wont let us oversize our Solar systems, want to change our Feed in Tariff? Campaign to allow Californian residents to sell electricity obtained by renewable energy for a fair pro-business market price. Will you read, sign, and share this petition?http://signon.org/sign/let-california-home-owners

JohnDavidDeatherage
JohnDavidDeatherage

Its expensive to get a college education in America.  Tuition costs are rising at 2 - 3 times the inflation rate.  Students want relief.  Graduates want student debt relief.    Now I read that students also want to limit how college endowments can be invested.  The highest return is not their top priority (which lowers tuition costs) but rather environmental impact.

You can't have it both ways.  You shouldn't complain that college costs too much and then limit how the endowment funds are invested. 

AlexIlich
AlexIlich

@ashterix21 I'm going to have to disagree here. Large fossil fuel companies do not simply satisfy demand. They lobby for laws limiting the expansion of renewable energy, and propagate myths that climate change is not real, and that renewable energy is not feasible. You seem to believe that climate change is happening, and people are responsible; however, you do not see renewable energy as a feasible solution. However, look at Germany, Scotland, and Iceland. Germany is on track to supply 80% of their electricity from renewable sources by 2050, Scotland by 2020, and Iceland already generates 100% of their electricity from renewable sources. These sources have great potential, and large oil and gas companies are holding them back. Unless we change the way we get our energy in the near future, the impacts of climate change will be drastic and largely irreversible. This movement highlights the immoral actions that large fossil fuel companies have taken to undermine efforts to combat climate change in order to maximize their own profits.That is why this divestment movement is so important.

ATR
ATR

@JohnDavidDeatherage The idea that students can push for certain change (change you must approve of) but not others is getting old, not to mention smacks of an unoriginal kind of paternalism. Especially when you haven't done your research. We can have it both ways, thank you. Fossil fuel investments are not the way to lowering tuition. 

1) Countless reports show investments in renewable energy projects can be just as profitable as investments in the fossil fuel industry (http://tinyurl.com/7sa7qlf)

2) raiseing tuition/lowering financial aid would be a college's choice, as their are many other areas that could take a financial hit if necessary (see: http://tinyurl.com/b9w7ah7)

wial
wial

@JohnDavidDeatherage This misses a multitude of points about how the real world works, but one I'd like to call out is the immanence of solar grid parity which has already occurred in Hawaii and much of the developing world, and will be upon us all in a year or two. That's the date when solar energy is cheaper than other sources, and after that date, the gap will only widen.  Centralized power like nuclear energy and large power plants will crumble into history, and the death grip of extractive industry on our political and economic system will weaken enough that we can finally undo the damage done by Reagan and his handlers -- and part of that in our re-liberated country will surely be free college for the masses, as we had up until this recent dark era.  Quite apart from saving the planet from total destruction, pushing for solar grid parity to come faster by prying extractive industry's cold dead fingers off our places of learning can only be to the good.  Even some in school currently will start to see the benefits.

RandalPope
RandalPope

@JohnDavidDeatherage By that argument, students should lobby their administrators to invest in arms trading and drug trafficking. The argument holds no water. The only question is where we draw the ethical line, and clearly the students are standing up and saying that fossil fuel companies have crossed the line by their reckless behavior that is changing our climate and has corrupted our political process for decades. Turning a blind eye to profiteering can not be condoned simply because we need the money.

ashterix21
ashterix21

@AlexIlich @ashterix21 You are right. I do agree on man-made climate change being real - not because I am an expert who knows it as a certainty; but the little that I know and read, including about overwhelming majority scientific opinion, makes it logical not to bet otherwise. Germany surely is at the forefront of the movement to switch to renewables, though currently they get 20% of their power from renewables (80% is a 2050 projection as you rightly said). But if you have followed their experience so far you will surely recognise the massive level of subsidies (35-40 bn euros), one of the highest power costs in Europe and , of course, their problems with intermittent availability of renewable power requiring a significant and inefficient carbon based power generation capacity. I can provide supporting data if you want, but Germany is NOT an example of renewable power being economically viable on a large scale. I am not denying that renewables need to be supported ( not sure if we have any option anyway!) and that Germany might have managed it in the best possible way; I just think it is important to be realistic about the current state of the renewables technology and the myriad challenges it faces. The one thing I do have a big difference with you about is a case against "large fossil fuel companies" for " lobbying against the expansion of renewable energy", " and immoral actions to undermine climate change efforts to maximise their own profits". These are statements that need backing up to be taken seriously. I still maintain the divestment movement could be well-meaning but misguided. 

JohnDavidDeatherage
JohnDavidDeatherage

@ATR @JohnDavidDeatherage 

First, I suggest you invest in spell check.  Second, while I'm a big fan of green energy, it is currently not economically viable.  Don't believe me? Solyndra, A123 Systems.  Endowment Funds should be invested with the  head, not the heart.

JohnDavidDeatherage
JohnDavidDeatherage

@wial @JohnDavidDeatherage   I say this with complete sincerity.  You are an idiot.

You want to tell me how the "real world works..." and you can't spell?  Free college for the masses? When did we ever have free college in this country?  

I'm in favor of alt energy. I drive a hybrid. But here's a simple truth. Nobody as ever bought a Prius to save money.  The premium cost of a Prius can not be recovered in gas savings for a normal 15,000 per year driver with gas prices between 3.00 and 3/50 per gallon.

JohnDavidDeatherage
JohnDavidDeatherage

@RandalPope @JohnDavidDeatherage   Again, my point is...  Don't complain that tuition is too high & complain that you don't like how the endowment is invested.  You want to invest in green energy, be ready to accept higher risk and lower return.  FYI,  because of what's known as the "Prudent Man Rule", endowments are generally prohibited from taking flyers on long shots like green energy.

TaitChandler
TaitChandler

@ashterix21 @AlexIlich @ashertrix21 I would just like to mention that when you talk about 'massive government subsidies' for things like renewables, they pale in comparison to the amount of government money pumped into keeping the fossil fuel industry selling at such a low price, undermining the very renewable energy expansion we need. The oil and gas subsidies are also written into the tax code, and will not sunset like most of the renewables subsidies for wind and solar. Oil and gas companies don't even have to lobby for their subsidies now, because they are inevitable - due to your own logic: "Fossil fuel companies are supplying the demand, we must keep them a float"The best credible estimate for the cost of subsidizing the oil and gas industry is $46.2 billlion a year. http://www.csmonitor.com/USA/Politics/2011/0309/Budget-hawks-Does-US-need-to-give-gas-and-oil-companies-41-billion-a-yearThen you add on the military costs of constantly keeping the Straight of Hormuz safe and our oil shipping lanes clear. The military employs the entire 5th fleet for just that purpose. http://www.reuters.com/article/2011/12/28/iran-hormuz-closure-idUSL6E7NS0P920111228That is not even counting the nearly $120 billion a year in health costs that have been associated with fossil fuel burning just in the US, mostly from premature deaths due to air pollution, that a report by the National Academy of Science put out in 2009. http://www.nytimes.com/2009/10/20/science/earth/20fossil.htmlWe are the 'demanders' aren't the only reason the fossil fuel industry is continuing to beat renewables. There is an unfair playing field because fossil fuel consumption is still seen as legitimate by long term planners and policy writers. Our movement is set to end that legitimacy and prod government action in a different direction.

JohnDavidDeatherage
JohnDavidDeatherage

@bafranta @JohnDavidDeatherage @ATR I agree that dirty fuels have negative externalities that are not factored into their costs. I also agree they receive tax breaks.  I believe both policies are short sighted and should be changed.  You may / should fight them with your own money.  But college endowments have an obligation to find the best returns for the least financial risk.  No legal investment that meets those qualifications should be excluded.  You are leading with your heart, not your head.

bafranta
bafranta

@JohnDavidDeatherage @bafranta @ATR 

It's important to note that fossil fuel industries receive large subsidies in the US.  Furthermore, there are huge extra costs associated with fossil fuels due to negative health impacts, climate change, and so on.  The health and environmental costs of coal, for example, make it 2-3 times more expensive than it appears to consumers.  So fossil fuels are not as cheap as they look:

http://solar.gwu.edu/index_files/Resources_files/epstein_full%20cost%20of%20coal.pdf

And when the investments of others threaten my future and those of my children, you best believe I'll fight them.

JohnDavidDeatherage
JohnDavidDeatherage

@bafranta @JohnDavidDeatherage @ATR  Then invest your own money as you see fit. Investing in less performing companies because it makes you "feel" good doesn't make investment sense.  What alt or green energy actual generates profits? Any that don't rely on subsidies to survive? 

dirty fuels will be the dominate fuels for decades. Unfortunate but true.  Alt energy  is twice as expensive coal.  I don'l like it. I'm in favor of a carbon tax but until then, coal is cheaper than anything else.

bafranta
bafranta

@JohnDavidDeatherage @ATR 

Absolutely - endowments should be invested with the head. And the head says that fossil fuel investments are foolish. The survival of fossil fuel industries is not compatible with the stability of our lives, our societies, and our institutions. It's not a choice we asked for, but it is upon us nonetheless. Divestment is a difficult but necessary step. Let's do this for ourselves and for our descendants.