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New York Pension Fund Tied to Fracking

As New Yorkers await governor Cuomo’s decision to lift the ban on high-volume horizontal fracking in the state, the Public Accountability Initiative (PAI) illustrates how billions of dollars from the state pension fund has been invested in frack companies—and then turned around and used to make campaign contributions and fund lobbying efforts to lift the moratorium on the controversial practice here.

Siena poll finds that only 39 percent of New Yorkers support lifting the moratorium, while 38 percent oppose it. According to Siena pollster Steve Greenberg, a plurality of downstate Republicans support it, while a plurality of upstate Democrats oppose it. (Of course, the downstate New York City watershed will remain protected from fracking even if the DEC recommends lifting the ban for the upstate southern tier.)

Either way, if you work for the state, part of your paycheck has been, and continues to be used to fund efforts to legalize it.

Click here to read PAI’s new findings, wherein they ask the pertinent question: “Is New York putting pension funds—and the environment—at risk by investing in fracking?”

 



  • Jim_Holstun

    So the New York State Comptroller misappropriates state workers’ retirement
    savings to enrich petro-capitalists, corrupt their state legislators, and
    poison their air and water. Seen from a distance—say, the Mars colony I hope to
    be joining soon—there is a sublime elegance about it all: “Not only do I want
    to rob and poison you—I also want you to pay
    me for doing so!”

  • AS a NYS retiree, words aone are insufficient to express my joy with the thought that my future income is invested in the worst environmental train wreck of the century.

  • Debbie Lambert

    What a train wreck this is. Hasn’t anyone there heard about responsible investing? SHAME!

  • JHBurnette

    Well, I tried, man.  Everybody’s gotta keep up the pressure on the Governor and on the State Senate (especially Grisanti and Maziarz).

    http://artvoice.com/issues/v10n34/week_in_review/shale_gas_dreams