MORGANTOWN, W.Va. – According to West Virginia treasurer Riley Moore, President Biden’s administration is putting pressure banks to stop financing fossil fuel industries. On WAJR’s Talk of the Town, Moore said he is looking the claims very seriously and plans to take action if financial institutions are not acting in the best interests of West Virginians.
“John Kerry and the Biden administration have been in discussions with different financial institutions across the country to pressure them to stop financing and lending to coal, natural gas or any fossil fuel industries out there.”
Moore says that this plan goes against our values as a country and state. He adds that he will defend West Virginia residents working in legal industries that are threatened in cases like this.
“We still do live in American the last time I checked. Coal and natural gas are legal industries,” Moore said,” Apparently we’re moving in a fashion that’s trying to make this an unfinanceable undertaking here in the United States which I think is completely un-American.”
This week, Senate Republicans sent a letter to the Biden administration opposing the practice of discouraging investment in fossil fuels while encouraging investment in alternative fuels.
“I did have a coal company come to me saying their bank had reached out to them and said they we’re getting a tremendous amount of pressure to divest and stop financing your operation from the president,” Moore said.
Moore said he will sanction financial institutions if he finds evidence of cutting off funding coal, natural gas and related industries.
“We want all the lending institutions to certainly be on notice that we are looking at this,” Moore said,” I was elected to fight for the people of this state and I’m going to start throwing some elbows.”
Moore referred to Kerry as a “Learjet liberal” and promised to fight against policies that hurt the residents of West Virginia.
“They are coming after us- our industries, our people and this is one way we can try to fight back,” Moore said.
Allowing the federal government to influence the financial industry will erode all freedoms, especially financial freedom.
“They are trying to pick winners and losers,” Moore said. “They are trying to say coal and gas is a loser, and they’re trying to push banks to no longer offer lending and financing of the fossil fuel industry. I think it’s un-American, and I think it serves the interests of those that are diametrically opposed to our way of life.”