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Texas Retirement System Defies State Law by Investing Billions in Anti-Oil Firm BlackRock

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In a move that has left many Texans baffled and concerned, the Employee Retirement System (ERS) of Texas has announced that it will be transferring significant assets from the Texa$aver program to BlackRock, an investment firm recently scrutinized for its apparent discrimination against our vital oil and gas industries. Despite numerous state entities choosing to sever ties with BlackRock in compliance with SB 13, the Investment Protection Act, ERS has decided to deepen its financial involvement with the controversial firm, moving an estimated $5.5 billion in holdings.

This decision comes amidst a backdrop where state resources and investments are critical to our economic independence and sovereignty. As a state that prides itself on upholding the values of free enterprise and industry, particularly in the oil and gas sectors, Texas must remain vigilant against entities that exhibit bias under the guise of environmental, social, and governance (ESG) activism. It’s perplexing why ERS would disregard the clear legislative intent of SB 13, which specifically targets such discriminatory practices against our energy producers.

The implications of ERS’s choices are not trivial, as these involve the retirement funds of thousands of Texas employees. Beyond the immediate financial ramifications, this decision sends a troubling signal about the state’s commitment to defending its core industries from unfounded assaults by ESG proponents. At a time when institutions like the Texas Permanent School Fund and public school teachers’ pensions have rightly distanced themselves from BlackRock, the actions of ERS stand out as not only contradictory but against Texas law and the best interests of its people.

BlackRock’s recent statements and supposed backtracking on their stance against fossil fuels seem to be little more than strategic lip service after intense scrutiny and financial withdrawals. It is essential to remember that their core agenda has not wavered, as evidenced by ongoing investment patterns away from fossil fuels, which are integral to Texas’s economy.

As advocates for Texas sovereignty and economic independence, we must question, and challenge decisions that do not align with our state’s best interests or compromise our core industries to appease global investment trends that do not serve us. The Texas Nationalist Movement remains dedicated to ensuring that our economic policies and institutional investments reflect the values and interests of Texans, especially when it comes to supporting and sustaining the industries that make Texas strong.

The resistance against such ill-advised investment strategies must continue, as should our advocacy for rightful and judicious stewardship of Texan resources. It is not merely a matter of economics but of upholding our rights, sovereignty, and future as a potentially independent nation. As the debate over Texas independence—TEXIT—continues, it becomes increasingly clear why such autonomy is necessary: to protect our assets from being mismanaged or used against the industries that form our economy’s backbone. The time has come for Texans to demand greater accountability and alignment of our state’s financial decisions with our principles.

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