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Federalist Radio Hour

A Powerful Campaign Against Woke Capitalism Is Unfolding Quietly In State Treasurer Races

Federalist Radio Hour

Radio America

News, News Commentary, Politics

4.53.3K Ratings

🗓️ 17 December 2021

⏱️ 38 minutes

🧾️ Download transcript

Summary

On this episode of "The Federalist Radio Hour," West Virginia State Treasurer Riley Moore joins Federalist Western Correspondent Tristan Justice to discuss how state treasurers are leveraging their power to fight against woke capitalism.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello, I'm Celero, radio hour. My name is Tristan Justice and I'm the Western Correspondent

0:20.8

for the Federalist. You're joining me today as West Virginia State Treasury, rather

0:24.8

more treasure, how are you doing? I'm doing great. Thanks for having me on Tristan. So I wanted

0:30.6

to talk about this recent coalition you launched last month. You joined with 15 states to send

0:35.9

the letter to the baking industry, threatening to strip $600 billion in assets, state assets,

0:41.1

park them elsewhere, if institutions pledge to refuse investment and fossil fuels. Tell me

0:46.3

about this coalition. Yes, so this was something that came to my attention is I took off for

0:55.1

this in the beginning of this year where I had coal producers and gas producers in my state of

1:02.3

West Virginia come to me and say, look, we are hearing from our banks that we're going to

1:07.9

potentially lose access to capital, which is quite alarming for us for a big extraction industry

1:17.2

state, we're an energy state. So I started looking more into it and then I saw the US Senate

1:24.4

kind of caught on to it and it turned out there are a number of coercive measures going on and

1:30.7

continue to go on by John Kerry and the Biden administration putting pressure on banks to

1:36.0

invest from the fossil fuel industry, which is coal gas and oil. And so I put a coalition together

1:44.5

after talking to various energy companies and states of state treasures to put out a letter as a

1:50.3

warning first to say, look, if you continue to go down this path, we're likely not going to be

1:57.1

able to continue to do business with you. Well, we didn't get any real reaction from them or

2:04.0

correction in their behavior. I got a lot of foias, but no reaction. And so that was a precursor

2:16.1

to give them a heads up that action is coming and that's when we took action this most recent

2:20.3

letter that we released just a few weeks ago with this coalition of 15 states. You mentioned $600

2:27.1

billion. We're the vast assets under management in between all of us and going forward. If you're

2:36.3

going to boycott the fossil fuel industry, you are not going to be eligible for contracts with the

...

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