Editor & Publisher, Marcellus Drilling News (MDN)
The Board of Trustees at Cornell University are not about to let some radical, rich kids force them into fossil fuel divestment!
Cornell University is home to some real loons, like Tony Ingraffea and Robert Howarth, who try to claim using natural gas is worse for the environment than burning coal. Their research has been debunked numerous times. But then there are some real scientists and professors at Cornell, like Lawrence M. Cathles, Larry Brown, and Andrew Hunter. Over the years we’ve despaired that Cornell would ever pull its collective head out of its…asphalt. But then, none other than the Cornell Board of Trustees does us proud.
There has been a great deal of pressure from spoiled, rich, white kids to force the universities they attend to divest from fossil fuels. This is true for Cornell as well. The Cornell Board of Trustees has just voted NOT to divest their considerable endowment funds from companies that produce fossil fuels. Kudos to Cornell!
Notice how some of the spoiled, rich, white kids have defaced the Ezra Cornell memorial in the picture below. See the hammer and sickle symbol? That’s from the old Communist Soviet Union. Which re-enforces what we have long told you: Radical environmentalists are leftist/Communist in philosophy. They prefer a totalitarian society with no freedom. To which we say, go live in China or Russia if that’s what you want, you stupid children.
Cornell’s Board of Trustees rejected a proposal to divest the university’s endowment from the top 100 oil companies over the next 20 years.
Instead, the board adopted guidelines to determine when it should divest the university’s endowment for “socially responsible reasons” according to Cornell Chronicle.
Only when a company’s actions are “morally reprehensible” will the board consider divestment, examples of such reprehensibility being exemplified in the Chronicle as “apartheid, genocide, human trafficking, slavery or systemic cruelty to children, including violation of child labor laws.”
Chairman of the Board, Robert Harrison ’76, said many activities that cause social harm do not descend to the level of morally reprehensible, and that divestiture is “merely symbolic”.
“Cornell’s overriding responsibility is to maintain itself as a neutral forum for analysis, debate and the search for truth,” said Donald Opatrny ’74, chair of the board’s Investment Committee, to the Cornell Chronicle. “The university’s endowment must not be regarded primarily as an instrument of political or social power; its principal purpose is to provide income for the advancement of the university’s educational objectives.”
According to the Chronicle, the standards adopted by the board are as follows provide for divestment only when:
A company’s actions or inactions are “morally reprehensible,” and the divestiture will likely have a meaningful impact toward correcting the specified harm and will not result in disproportionate offsetting societal consequences; or The company contributes to harm so grave that it would be inconsistent with the goals and principles of the university.
There are additional procedures regarding review of divestment proposals that are presented with or without Faculty Senate resolutions.
Reacting to the announcement, Matt Dempsey of DivestmentFacts.com wrote in a press release: “Even though divestment is demonstrably a horrible strategy and would cost Cornell millions a year for no actual gain, you have to tip your cap to the administrators for standing up on this and doing the adult thing, doing the thing that was best for Cornell’s students, faculty and academic programs, even though doing the opposite thing would have gotten them lots of nice mentions on Twitter.”
The proposal was brought forth by all of Cornell’s shared governance groups (Student Assembly, Faculty Senate, etc.) and presented to the Board by Professor David Shalloway, molecular biology and genetics.