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.

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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Dave Fehling

Director of News and Public Affairs

As Director of News and Public Affairs, Dave Fehling manages the radio news operation at Houston's NPR station. Previously, he was a reporter at the station, covering the oil & gas industry and its impact on the environment. He won top state honors for in-depth and investigative reporting as well...

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