Bank of America Showcases Dirty Investments

Written by Scott Parkin

Topics: Coal

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Today in San Francisco, Bank of America had their 37th Annual Investor’s conference where they showcased to the investment banker crowd their dirty investments.

Bank of America’s investment portfolio includes–

American Electric Power: The largest greenhouse gas emitter in the United States
Dynegy/LS Power: Currently, responsible for the largest build-out of coal-fired power plants on the books (12 of them)
Massey Energy: The “poster child” of mountaintop removal. Currently operating a coal processing plant and a lake of coal waste next to Marsh Fork Elementary
Peabody Energy: Largest mining company in the world. Operates strip mining operations on Dine’ and Hopi lands. Uses filthy “coal slurry” that has contaminated the Navajo Aquifer.

Charming, isn’t it? I guess they are thinking if the investors don’t ask about these businesses practices, they don’t have to tell.

Besides their own dismal record, here’s who they were hosting. Amongst many others.

Dominion Resources: Building 3 new coal-fired power plants including one in Wise County Virginia (25% of Wise County has already been strip-mined)
Duke Energy: Recently lost a ruling in the US Supreme Court for their exploitation of loopholes in the Clean Air Act and violating emissions standards.
Kimberly Clarke: Manufacturer of Kleenex. Cuts down ancient Boreal forests in Canada for those disposable paper products.
Waste Management: Unparalleled record of violating environmental regulations and poisoning communities.

Outside RAN and Greenpeace squared off against Bank of America’s fan club, the Billionaires for Coal, to prove who is the swings the biggest sign and chants the cleverest chant. The enviros pretty obviously won those battles.

Right now a rapidly growing anti-coal/clean energy movement is bursting at the seams throughout the country. Many are targeting the investment bankers that fund coal extraction, processing and combustion.

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1 Comment For This Post I'd Love to Hear Yours!

  1. Lloyd Scott says:

    The B of A has made record profits to the tune of $21 Billion dollars this year.Now you know why.I guess they wanted to save money by not getting their Notary Public stamps renewed in the State of Nevada or else the State wouldn’t renew it.?????

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