Back to the 20th century

WV’s Republican Party and the fossil fuel industry (with Thursday morning update)

Yes, let’s start by cutting the severance tax

If the state is not going to move on from fossil fuels, shouldn't they pay their fair share? Not in West Virginia. An explanatory video:

Lawmakers have proposed cutting the coal and natural gas severance tax during this legislative session. The tax, which helps ensure out-of-state corporations pay their fair share and West Virginians benefit from our natural resource wealth, funds health care, education, and more. pic.twitter.com/CgfSZ25s9x
— West Virginia Center on Budget and Policy (@WVCBP) January 26, 2022

Support for coal but not the miners -- black lung

West Virginia's U.S. House members declined to express support for a bill that would restore the tax that supports the Black Lung Disability Trust Fund, which West Virginians disproportionately rely on. https://t.co/n7PgtILyjg
— Charleston Gazette-Mail (@wvgazettemail) January 25, 2022

Yes, it's another Ogden favorite pandering to fossil fuel interests

Riley Moore has gotten lots of publicity on this:

"West Virginia state Treasurer Riley Moore announced Monday that his state would end the use of a BlackRock Inc. investment fund over the firm's push for climate-focused investment strategies that Moore says threaten his state's economy."https://t.co/gkihYtIvGu
— CO2 Coalition (@CO2Coalition) January 19, 2022

But does it make a difference? Here is Politico yesterday:

For now, the move by Moore in West Virginia has little impact on BlackRock, which has $10 trillion in assets under management. Moore’s office oversees West Virginia’s $8 billion operating fund, only a fraction of which is invested in BlackRock money market funds. He doesn’t control the state’s pension funds, which also invest with BlackRock.

So, if the amount of money is so small that it has little impact, what Moore is doing is using state money to garner good publicity for himself.

Thursday morning updates

From this morning's Charleston Gazette-Mail front page:

WV House committee advances coal property tax bill previously estimated to cost local governments $12M

From that article:

A West Virginia House of Delegates committee has advanced the same coal industry-friendly bill that drew opposition last legislative session from lawmakers representing coal-producing counties after state tax officials estimated it would cost local governments $12 million in 2022.