Texas bill would punish Wall Street for fossil fuel disinvestments

 

Paybacks are hell. That’s the adage these days whether it’s in sports or business but some national firms that suddenly became environmentally woke and decided to take it out on oil and gas might experience those paybacks.

Firms that refuse to do business with fossil fuel companies might pay the price in Texas where legislators are promoting a bill to direct state investment funds to divest from such companies.

The Texas House passed the bill on Monday and Senate Bill 13 needs only a third reading before it is sent to Gov. Greg Abbott.

Click here for Texas Tribune story.