"Texas Pulls $8.5B from BlackRock in Major Blow to ESG Scam"

The State of Texas is terminating an $8.5 billion investment with BlackRock over the firm's alleged boycott of energy companies, citing a 2021 state law that seeks to distance from financial institutions boycotting the oil and gas sector. This represents the largest divestment of its kind since Republican-led states began terminating their financial ties to BlackRock and other financial institutions over their pursuit of ESG standards. BlackRock has defended itself, stating it remains invested in traditional energy companies and has partnered with major energy company Occidental Petroleum on a carbon capture project in Texas. The move was cheered by opponents of ESG policies, while some critics argue that the actions harm consumers.