ICYMI: Fractivists handed two major defeats

ICYMI: Fractivists handed two major defeats

The New York Times / The Complete Colorado | May 03, 2016 | by CEI Staff

Colorado Court Strikes Down Local Bans on Fracking

Colorado’s Supreme Court on Monday struck down local government prohibitions on hydraulic fracturing, or fracking, handing oil and gas companies a victory in a lengthy battle over energy production in the environmentally conscious state.

In separate rulings, the court said a moratorium in Fort Collins and a ban in Longmont were invalid because state law pre-empted them. A lower court had reached the same conclusion earlier.

Read the full article in the New York Times

Stanford: No credible case for divestment

On April 25, Stanford University – where [Tom] Steyer sits on the board of trustees – rejected calls to divest from fossil fuels. Steyer is a huge supporter of fossil-fuel divestment, a campaign that involves many of the same environmental activists as the climate-speech crackdown.

By convincing universities to sell off stocks, bonds and other securities tied to fossil fuels, divestment activists hope to demonize energy companies and build political support for new climate laws and regulations. Steyer, with the help of student activists, was pushing his fellow trustees to divest. But the board’s statement this week showed just how badly he failed.

Even though the board believes in reducing fossil fuel consumption, and developing alternative energy sources, “at the present moment oil and gas remain integral components of the global economy, essential to the daily lives of billions of people in both developed and emerging economies,” the trustees said. “[G]iven how integral oil and gas are to the global economy, the trustees do not believe that a credible case can be made for divesting from the fossil fuel industry until there are competitive and readily available alternatives.”

This is a crushing defeat for the California billionaire and his allies in the fossil-fuel divestment campaign. The trustees of Stanford know Steyer better than just about anyone, and even they refuse to follow him. If he can’t sell divestment to Stanford – where he’s a trustee and even has a special energy policy center named after him – why should any other university take divestment seriously?

Read the full article in The Complete Colorado

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