Divestment Campaign Targets Fossil Fuels

fossil fuel divestment HarvardAmerica is on the verge of energy independence. We now pump as much oil as Saudi Arabia. Investments in new technologies are paying off, buoying our economy with new jobs and lower energy prices. What’s not to like?

Well plenty, if you are an activist who takes your lead from an organization called 350.org that wants to end the use of oil, gas and coal. The “350” comes from the group’s goal of reducing the amount of carbon dioxide (CO2) in the atmosphere from its present level of 400 parts per million to 350. Its unclear what good such a reduction would do. CO2 is naturally occurring and is always present in the atmosphere. It’s what we exhale.

When you are promoting a cause, however, it’s good to have a numerical goal no matter how arbitrary or unachievable. In fact, the more unachievable it is, the better in order to …

Walmart Withdraws from ALEC, Wallows in Bribery Scandal

Mike Duke photoIn an unsurprising, capitulatory move last week, Walmart joined several other major companies and withdrew its membership from the American Legislative Exchange Council, which advances the principles of free markets and limited government at the state level through legislative idea exchanges.

The move preceded Friday’s annual shareholder meeting, in which executives emphasized their commitment to principles of integrity. That came into question especially since April, when the New York Times revealed that company officials authorized millions of dollars in bribes in order to expedite building permits and other favors in Mexico.

A number of investors and pension funds attempted to remove some Walmart directors from the board, including CEO Mike Duke (in picture), former CEO Lee Scott, and S. Robson “Rob” Walton, son of company founder Sam Walton. Because the family holds nearly 50 percent of stock in the company, proposals they don’t support will always …