Petroleum Industry Seeks To Counter Fossil Fuel Divestment


“API TO HIT BACK AT UNIVERSITY OIL AND GAS DIVESTMENT: The American Petroleum Institute will release a new study from economic advisory firm Sonecon looking at the performance of oil and gas companies in higher education endowment portfolios. The study comes after a growing movement among students at many colleges to divest oil and gas holdings from their endowments (The New York Times wrote about it in December: API put out a study last year concluding that oil and gas holdings brought big returns on investment to public pension funds.”

This means that fossil fuel divestment is working. We have the attention of the fossil fuel industry. They are taking note of our actions–enough so to fund their own study about the necessity of their stocks in higher education endowments.

Think of what this movement has done in the past six months. We have brought climate change to the forefront of local and national dialogues, and the fossil fuel industry has taken notice.


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