The Texas Senate may pass a bill punishing investment funds for exiting fossil fuel investments, to counter the Wall Street megabanks and asset managers led by BlackRock which are ordering all funds to boycott oil and gas. The original report in the Texas Tribune on the bill said it would require continued oil and gas investment from some quite large funds, including the $46 billion Texas Permanent School Fund and another $62 billion in the Texas Teacher Retirement System and the Texas Municipal Retirement System. Lt. Gov. Dan Patrick told OilPrice.com the bill should pass easily.
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