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Energy & Environment

Report: Colleges That Stop Investing In Oil And Gas Risk Losses

Colleges that want to make a statement about climate change by cutting off investments to oil & gas companies may lose a lot of income.


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To promote less use of oil, gas and coal, proponents of alternative energy have petitioned colleges and universities to stop investing in those industries. But a new report funded by the Independent Petroleum Association of America found that schools would lose millions in investment returns if they shunned fossil fuel companies.

The study by a California Institute of Technology professor found Harvard would lose nearly $108 million dollars a year, Yale $51 million, MIT $18-million. The study said the loss of university investments would matter little to the oil & gas industry and if anything, would make less money available for research into ... alternative energy.

Groups promoting divestment panned the report as inconsequential because it was funded by the industry. There are on-line petitions to urge schools to go fossil free with one showing several hundred signatures for universities in Texas.

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