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If the shoe fits

  • Amount of NYS pension fund invested in shale gas and fracking companies: more than $1B
  • Percentage increase in value of the fund's 4.2 million Schlumberger shares over the years: 104
  • Watching anti-fracking, tax-the-rich Barbara Lifton squirm when faced with the embarrassment of the state's public sector employee pensions earning big bucks off fracking investments: priceless

The Ithaca Journal story is here.

Assemblywoman Barbara Lifton, D-Ithaca, has been one of the fiercest critics of hydrofracking in the Legislature, but said she trusts the work of the Comptroller's Office.

"I assume they look at these decisions strictly as investments and keep the politics out of it," Lifton said.


While the companies' practices continue to come under intense scrutiny from environmental groups, telling the comptroller not to invest in an industry would be setting a dangerous precedent, said Sen. Thomas Libous, R-Binghamton.

"This issue has come up on a number of occasions, and not just as it pertains to fracking, but as it pertains to a whole host of things over the years," Libous said. "If the comptroller started separating things out into what people agreed or disagreed with, there would be nothing to invest in."

No! I'm shocked—shocked!—that anyone could draw such a conclusion.

The lone commenter as of this writing says that the state pension fund has less than one percent of its assets invested in gas companies.  True.  But can you imagine the outcry if the shoe were on the other foot and a Republican comptroller were investing state funds in fracking?

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