President Trump’s energy agenda has always been straightforward: unleash American energy, lower costs for consumers, and ensure our grid is strong, stable and secure. It’s an agenda rooted in common sense and one I proudly advanced as secretary of energy.
However, a misguided Texas lawsuit now risks undermining that agenda by threatening to pull billions of dollars in investment out of our energy markets, starting with coal.
The lawsuit, filed by the Texas attorney general, accuses major investment firms — BlackRock, State Street and Vanguard — of violating antitrust law by “coordinating” to reduce coal production. Their supposed weapon? Environmental, social and governance-related investment practices. Yet instead of offering a market-based fix, the lawsuit pushes an extreme remedy: force these firms to divest entirely from coal-related assets.
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