Blackrock Climate Cartel

[Truck Fump / h1b]

COTTON DEMANDS ANSWERS FROM BLACKROCK ABOUT INVOLVEMENT WITH CLIMATE ACTION 100+, POTENTIAL ANTITRUST VIOLATIONS
FOR IMMEDIATE RELEASE
Contact: James Arnold or Mary Collins Atkinson (202) 224-2353
July 14, 2022

Cotton Demands Answers from BlackRock About Involvement with Climate Action 100+, Potential Antitrust Violations

Washington, D.C. — Senator Tom Cotton (R-Arkansas) last night sent a letter to Larry Fink, Chairman and CEO of BlackRock Inc., demanding answers about the firm’s involvement in a scheme to reduce drilling for oil and gas that may violate antitrust law.

In part, Cotton wrote, “BlackRock is an ‘investor participant’ in Climate Action 100+ (‘CA100+’), ‘an investor-led initiative’ to pressure ‘the world’s largest corporate greenhouse gas emitters [to] take necessary action on climate change’ like, for example, pressuring oil companies to drill for less oil. According to CA100+, ‘investor participants’ are ‘signatories to the initiative and are responsible for direct engagements with focus companies’ that directly compete with one another.”

“Your anti-drilling coercion threatens our national security, hurts Americans struggling to buy a tank of gas, and appears to violate antitrust laws. Specifically, by engaging with competing ‘focus companies,’ CA100+ investor participants appear to be running a spoke-and-hub conspiracy to restrict the supply of fossil fuels and impose various other unlawful restraints on trade. By ‘collaborating’ with other investors, you and your fellow CA100+ investor participants appear to be acting like a climate cartel,” Cotton continued.

Text of the letter may be found here and below.



Mr. Larry Fink
Chairman and Chief Executive Officer
BlackRock Inc.
55 East 52nd Street
New York, NY 10055

Dear Mr. Fink,

I'm writing about your involvement in a scheme to reduce drilling for oil and gas.

BlackRock is an "investor participant" in Climate Action 100+ ("CA100+"), "an investor-led initiative" to pressure "the world's largest corporate greenhouse gas emitters [to] take necessary action on climate change" like, for example, pressuring oil companies to drill for less oil. According to CA100+, "investor participants" are "signatories to the initiative and are responsible for direct engagements with focus companies" that directly compete with one another.

Your anti-drilling coercion threatens our national security, hurts Americans struggling to buy a tank of gas, and appears to violate antitrust laws. Specifically, by engaging with competing "focus companies," CA100+ investor participants appear to be running a spoke-and-hub conspiracy to restrict the supply of fossil fuels and impose various other unlawful restraints on trade. By "collaborating" with other investors, you and your fellow CA100+ investor participants appear to be acting like a climate cartel.

In light of the growing concerns about anti-competitive ESG activities, many law firms have begun offering antitrust counsel to clients participating in initiatives like CA100+.

Please provide answers to the following questions by July 20, 2022:

Has BlackRock engaged with any focus companies as part of the CA100+ initiative? If so, please list each focus company.
Has BlackRock collaborated with any other investor participants as part of the CA100+ initiative? If so, please list each investor participant.

https://www.cotton.senate.gov/news/...ate-action-100-potential-antitrust-violations

 

[Walt]

So if I understand correctly, you are upset that a private investment company is offering a way to let people invest the way they want, and you want the government to take over their investments?

 

[Truck Fump / h1b]

So if I understand correctly, you are upset that a private investment company is offering a way to let people invest the way they want, and you want the government to take over their investments?

they're pitting investor against investor.

they're conflicted out of the possibility of honest dealings and due diligence.

these are legal terms, you wouldn't understand.

you're dumb.

 

[Walt]

they're pitting investor against investor.

The market is pitting investor against investor. It is called capitalism.

 

[Truck Fump / h1b]

The market is pitting investor against investor. It is called capitalism.

but monopolies and cartels work contrary to the beneficial aspects of capitalism.

 

[Walt]

but monopolies and cartels work contrary to the beneficial aspects of capitalism.

There are huge numbers of money managers. If you do not like Blackrock, invest with someone else.

 

[Truck Fump / h1b]

There are huge numbers of money managers. If you do not like Blackrock, invest with someone else.

Do you believe in busting up monopolies to better service consumers?

probably not.

you suck financial industry cock all day and are a banker fascist mass murdering subhuman.

 

[Into the Night]

The market is pitting investor against investor. It is called capitalism.

False equivalence fallacy. What is happening here is a conflict of interest by an investment company. You can be sued for that.

 

[Into the Night]

but monopolies and cartels work contrary to the beneficial aspects of capitalism.

The only way a monopoly or cartel can survive is by government help. Without that help, a monopoly quickly becomes overwhelmed by new innovative startup companies that can out maneuver it in the market. Cartels quickly collapse into competition and one or the other member tries to gain an edge.

 

[Into the Night]

but monopolies and cartels work contrary to the beneficial aspects of capitalism.

The only way a monopoly or cartel can survive is by government help. Without that help, a monopoly quickly becomes overwhelmed by new innovative startup companies that can out maneuver it in the market. Cartels quickly collapse into competition and one or the other member tries to gain an edge.

 

[Into the Night]

There are huge numbers of money managers. If you do not like Blackrock, invest with someone else.

Sorry dude. An investment company with a conflict of interest is a scammer, not an investment company. They can be sued.

 

[Into the Night]

Do you believe in busting up monopolies to better service consumers?

probably not.

you suck financial industry cock all day and are a banker fascist mass murdering subhuman.

Monopolies bust themselves up unless they have government help to stick around. That's called fascism.

 

[Truck Fump / h1b]

Monopolies bust themselves up unless they have government help to stick around. That's called fascism.

government does often or even is usually involved in helping create or preserve monopolies and cartels. but not always.

 

[Truck Fump / h1b]

The only way a monopoly or cartel can survive is by government help. Without that help, a monopoly quickly becomes overwhelmed by new innovative startup companies that can out maneuver it in the market. Cartels quickly collapse into competition and one or the other member tries to gain an edge.

not true.
though usually yes.

 

[Truck Fump / h1b]

Monopolies bust themselves up unless they have government help to stick around. That's called fascism.

often times this is when the monopolists have achieved state capture through corruption.

you're still having this bizarre compunction to assert that corporations are morally pure in some regard.

that's that libertarian shrugger demon that still exists with in you.

"fuck the world because it doesnt worship me cuz i made blue steel" or some such nonsense.

ayn rand was a rothschild whore.

 

[Walt]

Sorry dude. An investment company with a conflict of interest is a scammer, not an investment company. They can be sued.

Let's follow your logic here. I decide it is in my interest to invest in green investments. They provide a fund that does that for me, and I put my money there. You sue them for not investing my money the way you want?

That is not a conflict of interest, that is you wanting to end capitalism, and replace it with your fascism.

 

[Into the Night]

often times this is when the monopolists have achieved state capture through corruption.

you're still having this bizarre compunction to assert that corporations are morally pure in some regard.

They basically are, except for some.

that's that libertarian shrugger demon that still exists with in you.

I am not a libertarian.

"fuck the world because it doesnt worship me cuz i made blue steel" or some such nonsense.

I make instrumentation, and I don't expect the world to worship me.

ayn rand was a rothschild whore.

No. She was simply a book author.

Your bigotry is clouding your thinking.

 

[Into the Night]

Let's follow your logic here. I decide it is in my interest to invest in green investments. They provide a fund that does that for me, and I put my money there. You sue them for not investing my money the way you want?

That is not a conflict of interest, that is you wanting to end capitalism, and replace it with your fascism.

Attempted proof by contrivance. No, you cannot use that as a proof. I am not a socialist.

 

[Truck Fump / h1b]

They basically are

stopped reading right there....