New York City’s hard-left Mayor Bill de Blasio blames oil companies for climate change and he has a plan to help level the field. It is one that would be very destructive to the U.S. economy.
He announced that he will seeks billions in damages from five major oil-and-gas companies while moving to divest from fossil fuels.
“It’s time for them to start paying for the damage they have done,” said Mr. de Blasio aka Warren Wilhelm at a press conference at the Manhattan Youth Center. “It’s time for big oil to take responsibility for the devastation they have wrought.”
The city has filed a lawsuit against five top energy producers, blaming the companies for greenhouse-gas emissions that he said have produced disasters such as Superstorm Sandy in 2012, he happily announced.
“I remember those days after Sandy in the Lower East Side. I remember how desperate it was. I remember how much fear and confusion there was,” said Mr. de Blasio. “And this was a tragedy that was wrought by the actions of the fossil-fuel companies. Let’s be clear. That’s where it came from.”
The communist mayor won’t be happy until he bankrupts the oil companies and has us living in huts.
The lawsuit seeks unspecified billions from the five companies—BP, Chevron, ConocoPhillips, ExxonMobil and Royal Dutch Shell—to fund a proposed $20 billion infrastructure project that would “build resilience against rising seas, more powerful storms, and hotter temperatures.”
Warren Wilhelm seeks the presidency after he gets finished with New York City.
He also announced plans Wednesday to sell off $5 billion in fossil fuel investments from city pension funds.
There is no proof Hurricane Sandy is the result of global warming but that is his premise and being a dictator who only believes in total government rule, he has ordained it to be so.
By all means, divest from highly profitable energy stocks while energy stocks are surging. Invest in green schemes which never have and never will make any money without government subsidies. Divesting from big oil will make DeBlasio and his sycophants feel good. So what if New York pension funds take hits and go further in the red? The important thing is to feel good. Divest now. Lose billions. Force pension funds to take painful haircuts. Show Venezuela’s Maduro how to do it right.
Is DeBlasio in a contest with Moonbeam McBrown to see how quickly they can damage their states’ (and the nation’s) economies? These are two of the most dangerous men on the planet.