Hypocrits: New York State pension invests in hydrofracking firms

State pension invests in hydrofracking firms – all the while having unions and the social progressives (Chuck Schumer, Charlie Rangal, Kristen Gillibrand and their supporters) protesting to end all energy production for the United States.



Here’s a look at some of the pension fund’s investments in natural gas and hydrofracking-related companies which either hold leases in New York or perform work in Pennsylvania. The data is as of March 31, 2011, the most recent data available from the State Comptrollers Office.

Company: Chesapeake Energy, # of shares: 2,310,253, Cost of Investment: $ 71,587,695, Market Value: $ 54,614,381

Company: Cabot Oil & Gas, # of shares: 563,970, Cost of Investment: $ 25,936,244, Market Value: $ 520,754,096.

Company: XTO Energy Inc *, # of shares: 1,969,181, Cost of Investment: $ 54,943,241, Market Value: $ 92,905,960.

Company: Southwestern Energy, # of shares: 1,309,416, Cost of Investment: $57,656,503, Market Value: $ 53,319,420.

Company: Range Resourses, # of shares: 677,298, Cost of Investment: $ 32,301,186, Market Value: $ 31,744,957.

Company: Schlumberger LTD, # of shares: 4,662,128, Cost of Investment: $ 145,133,103, Market Value: $ 295,858,643.

Company: Halliburton, # of shares: 3,032,170, Cost of Investment: $ 54,749,734, Market Value: $ 91,359,282.

*Since sold to Exxon Mobil

Patterson Moretorium: http://www.youtube.com/watch?v=_iIlnJuF1kA

Cuomo also kept in place Paterson’s executive order that froze permits for hydraulic fracturing, a controversial drilling process for natural gas, until July. http://polhudson.lohudblogs.com/2011/01/07/cuomo-keeps-records-order-hydrofracking-decree/

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