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NY State Pension Restricts Oil Sands Investments | Chief Investment Officer

The $247.7 billion fund has its sights set on shale oil and gas companies next. The $247.7 billion New York State Common Retirement Fund said it will restrict investments in oil sands companies it deems unprepared to “transition to a low-carbon economy,” and will sell off the investments it already has in those kinds of companies. The fund said it decided to ban investments in oil sands companies because they produce a heavy type of crude oil that is more costly and carbon-intensive than other forms of crude production. The fund currently holds more than $7 million in such securities, but said those “will be sold in a prudent manner and time frame.”

Oil Prices Rangebound As Long Term Problems Emerge

Eni (NYSE: E) to buy from hold, both due to an improving oil price environment. -     -     Continental Resources (NYSE: CLR)said its first-quarter production was roughly 6,000 boe/d lower than expected due to the Texas grid crisis.  Tuesday Aril 13, 2021  Oil prices are still bouncing around depending on the news cycle, but with little definitive direction. In the words of Rystad Energy, “Prices are still locked in a sideways limbo, as bearish Covid-19 developments in some countries compete against bullish economic data and spending projections going forward in US and China,”. 300 corporations call for 50% GHG cut. In a letter to President Biden, more than 300 companies called on the U.S. to double its greenhouse gas reduction target to 50% by 2030. “I think this signals a major shift in the corporate community’s understanding of the urgency of climate change as a systemic financial risk,” Anne Kelly of Ceres told the NYT. The Biden administration is expecte

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