CLARKSBURG, W.Va. – West Virginia Treasurer Riley Moore is pushing back against President Biden’s latest fossil fuel plan.
In a letter signed by Moore and 14 other state treasurers, they said they have a deep concern that the president and his administration are privately pressuring U.S. banks to refuse to lend to or invest in coal, oil, and natural gas companies, to try to eliminate the fossil fuel industry.
Moving away from fossil fuels is something on the Biden administration’s agenda, but Moore said it is something that needs to stay.
“I think that’s un-American,” Moore said. “I think that’s command-and-control economics, and it’s something I’m not going to stand for. And, I’m going to stand up for the people of West Virginia, and the workers and our economy, and I’m going to fight back. We saw what happened when this pipeline shut down here recently, and we had massive lines at the gas pump. People still use fossil fuels in this country, and it’s critical to our infrastructure, and it’s critical to our economy.”
West Virginia is the nation’s fifth-largest fossil fuel producer. If the Biden plan continues, Moore said it will cut off the fossil fuel industry at the knees.
“We’re talking about tens of thousands of jobs, hundreds of millions of dollars, all at stake here if these banks decided to de-bank our industries here in West Virginia,” explained Moore.
State leaders have yet to discuss what specific repercussions banks will face if they comply with Biden’s plan, but the treasurers stated in the letter that they will be put on notice.
“We’re going to take a look at that and see which banks decided to comply with this and which banks don’t, which are our friends, and which are not our friends,” Moore said. “The people of West Virginia have elected me as first Republican state treasurer in 92 years, to stand up and fight for them, and that is what I’m going to do. And, I’m going to use everything at my disposal to protect our jobs, and our industries and our economy till my last day in office.”
Moore was joined on the letter by Alabama Treasurer John McMillan, Arizona Treasurer Kimberly Yee, Arkansas Treasurer Dennis Milligan, Idaho Treasurer Julie A. Ellsworth, Kentucky Treasurer Allison Ball, Mississippi Treasurer David McRae, Missouri Treasurer Scott Fitzpatrick, Nebraska Treasurer John Murante, North Dakota Treasurer Thomas Beadle, Ohio Treasurer Robert Sprague, Oklahoma Treasurer Randy McDaniel, Pennsylvania Treasurer Stacy Garrity, South Carolina Treasurer Curtis Loftis Jr. and South Dakota Treasurer Josh Haeder.
Read the full letter here.