Investors should be wary of joining the ‘climate cartel’s’ conspiracy initiative, warns Sen. Tom Cotton
The Climate Action 100+ is a "clear violation" of investors fiduciary duty
Arkansas Sen. Tom Cotton criticizes the Climate Action 100+ plan, saying it is ‘specifically designed’ to drive up the price of gasoline.
During an interview on "Mornings with Maria," Wednesday, Sen. Tom Cotton, R-Ark., slams BlackRock CEO Larry Fink for his participation in the Climate Action 100+ initiative, arguing that investors interested in joining the "climate cartel" should "talk to their lawyers."
SEN. TOM COTTON: I don't think Mr. Fink wanted to answer these uncomfortable questions, but there's no question that climate action is a combination conspiracy, really, a climate cartel that's specifically designed to drive up the price of gasoline for America's consumers. Driving up the price of electricity by putting pressure on the oil and gas industries or businesses that are heavy users of oil and gas. This is clearly a violation of their fiduciary duty to their investors.
President Joe Biden speaks during the COP26 U.N. Climate Summit, (AP Newsroom)
In my opinion, it's probably a violation of the civil antitrust laws, which exposes them to triple money damages and is quite possibly a violation of the criminal antitrust laws. So any CEO or any investor who's thinking of joining the climate cartel better talk to their lawyer and they better be wary, because when we win the Congress, I'm going to make sure that we conduct oversight and expose these practices. And when the Department of Justice is no longer waging war against the oil and gas industry, I suspect they'll want to investigate this climate cartel as well.
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WATCH THE FULL INTERVIEW HERE:
Sen. Tom Cotton, R-Ark., demands answers on BlackRock CEO Larry Fink’s involvement with the Climate Action 100+ initiative on ‘Mornings with Maria.’