TOP STORIES Coal vs. Wall Street - The New York Times

Coal vs. Wall Street – The New York Times


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Climate change is not a partisan issue in many countries. Both parties on the right and on the left support policies to reduce greenhouse gas emissions, even as they argue over the specifics of those policies. This consensus has enabled the European Union to drastically cut emissions over the past few decades as the threat of global warming has become more apparent.

In the United States, of course, climate is a partisan issue. Nearly all elected Democrats are in favor of action to slow climate change. Almost none of the Republicans in important political positions, including members of Congress and Republican nominees on the Supreme Court, support this policy.

Today The Times publishes an article that explores the other side of this issue at the state level. I pass on the rest of today’s newsletter core material to my colleague David Gelles, who wrote this article.

Since the election of President Donald Trump, American corporations have become increasingly involved in the country’s culture wars. Big companies like Google and Coca-Cola have decided they need to take a stand on issues like immigration, climate change, gun laws and voting rights.

Corporate America’s stance on these issues has been an attempt to reflect the values ​​of its employees and clients, many of whom are younger and live in large metropolitan areas. As a result, these corporate positions have broadly aligned with those of the Democratic Party, leading to a fair amount of Republican hand-wringing. Mitch McConnell, Senate Republican leader, at one point warned companies to “stay out of politics” and other conservatives ridiculed “awakened capitalism.”

Recently, Republican officials have also begun looking for ways to strike back. Florida lawmakers this year removed Disney’s special tax status because the company opposed a new education law that opponents call Don’t Say Gay. But perhaps the party’s most significant efforts have so far received relatively little attention: Republican state treasurers are taking steps to punish companies they say are overly focused on environmental issues.

Last week, West Virginia treasurer Riley Moore used a new state law to bar five Wall Street firms, including Goldman Sachs and JPMorgan, from doing business with the state because he said the companies had distanced themselves from the coal industry. industry.

Similar bans are likely being prepared elsewhere. Legislators in several other states, including Kentucky and Oklahoma, have already passed laws similar to West Virginia’s. Legislators in a dozen other states are working on similar bills.

Treasurers in three states also withdrew a total of $700 million from investment funds managed by BlackRock, the world’s largest wealth management company, over objections to its stance on environmental issues.

These efforts to penalize companies are part of a larger push by Republican treasurers to promote fossil fuels and hinder climate action at both the federal and state levels. Treasurers work with a network of conservative groups associated with the fossil fuel industry, such as the Heritage Foundation and the Heartland Institute.

When I spoke to Moore, he presented his efforts to punish Wall Street firms as a way to protect the livelihoods of West Virginians. If the banks don’t want to deal with the coal companies, he said, why should he deal with them?

In response, banks say that coal is a bad investment and that all industries will have to deal with climate change. Bank officials add that they still do a lot of work with oil and gas companies.

However, these battles bring the US closer to a world of red and blue brands, in which politics will influence those parts of life that once seemed separate from it. People on both sides of the aisle are concerned that things have gone too far.

“I don’t like the idea that if you’re a Republican, you should be served by this company, and if you’re a Democrat, you should be served by this company,” said Noah Friend, a Republican attorney who previously worked for the Kentucky Treasurer, one of officials trying to stop the fight against climate change. “We already have many divisions in this country.”

But it seems unlikely that this trend will stop anytime soon. For Democrats and Republicans alike, the substance of these debates—about climate, civil rights, religious freedom, and more—is more important than the abstract principle that not everything has to be partisan.

You can read my story, which includes details about the many ways Republican Treasurers are promoting fossil fuels, here.

  • The Biden administration has declared the monkeypox outbreak a public health emergency with additional funds.

  • Senator Kirsten Sinema, a key centrist, has agreed to push a modified version of the Democrats’ climate and tax bill.

  • Kari Lake, who campaigned on false claims about a stolen 2020 election, won the Arizona Republican primary for governor.

  • Florida Gov. Ron DeSantis fired Tampa’s Attorney General, who vowed not to prosecute abortion cases.

  • Hungarian leader Viktor Orban, who has broken with democratic traditions and criticizes “mixed race” societies, spoke yesterday at a Republican conference in Dallas.

  • “There has never been a person who has posed a greater threat to our Republic than Donald Trump.” Former Vice President Dick Cheney said. in an advertising campaign for his daughter Liz.

Peter Meyer’s defeat is proof that while political violence is a vital issue, you can’t run a winning campaign on it. Katherine Miller claims.

Is this suburban New Jersey town infecting its residents with cancer? Public health officials should make it easier to detect, says Marion Renault.

Loch Ness monster: The new data gives hope to some Nessie enthusiasts.

Destruction of barriers: Chun Wai Chan is the first soloist of the New York City Ballet from China.

Modern love: What could they be if they were raised to believe that love is never a sin?

Classic Times: How American families are changing.

Tip from Wirecutter: Consider the “carburetor”.

Lives lived: Conceptual artist Jennifer Bartlett was a maverick, best known for Rhapsody, a collection of 987 enamelled steel plates stretching over 150 feet. She died at 81.

The 2022 NFL season kicked off: The Las Vegas Raiders defeated the Jacksonville Jaguars. last night in the league’s annual Hall of Fame game, a competition that features guys you rarely see in meaningful regular season action. I hope you slept well. Next week.

Ohtani Watch begins again: Shohei Otani, Los Angeles Angels unicorn and 2021 MLB MVP, was not traded this week. But the word Ohtani will change commands — it’s just a matter of time. On a signal, Otani drilled two homers last night – at a loss.

The English Premier League season starts today: Arsenal as well as crystal palace start things today at 3:00 pm ET. Season predictions? Manchester City is runaway favorite.

Forty years ago, one summer saw the release of a string of classic sci-fi films: Blade Runner, ET, Tron, Star Trek 2: The Wrath of Khan, and The Thing. These films expanded the genre beyond — into horror, heady dramas, family meals and franchise sequels — in a way that still feels like the blueprint for today’s blockbusters, writes Adam Nyman in The Times.

If you hadn’t grown up with these films, would they still be innovative to you? The Times asked four young science fiction stars born in the 21st century to watch one and give an honest review. “I don’t know how I got this far without knowing that Spock would die at the end,” said Celia Rose Gooding, star of the newest Star Trek series. “I feel like a terrible member of the franchise.”

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