NY fund will lose on some energy stocks
The writer of “Keep politics out of state pension fund” [Just Sayin’, Sept. 2] is absolutely right that small businesses should care about investment decisions made by the administrator of the fund. We all should, because poor decisions by government affect everyone.
But he is entirely wrong about the state legislation called the Fossil Fuel Divestment Act. It wouldn’t put us at more risk; it would put us less at risk.
The vast majority of countries in the world have agreed that burning fossil fuels contributes to climate change. New York and other states are joining those countries in setting goals to transition from fossil fuels to renewables.
This will inevitably result in regulations and policies that lead to less fossil-fuel use, and it will mean that fossil fuel companies will need to write off reserves that are on their balance sheets, resulting in huge losses.
The bottom line is that whether or not you believe humanity is causing climate change, the world is moving away from fossil fuels and that will bring down the value of fossil-fuel companies.
Jordan Dale, Nanuet
Editor’s note: The writer is a member of environmental organizations 350.org and the Sierra Club.
Rep. King’s criticism was unnecessary
Concern was indeed felt nationally as we watched nature’s havoc wrought upon Houston and the Texas coastline. Yet Rep. Peter King used the occasion to deride Sen. Ted Cruz and others from the Texas congressional delegation [“King’s tweet rebukes Cruz,” News, Aug. 28].
Perhaps King regarded this simply as just deserts for the opposition Cruz and others voiced previously for a nearly $50 billion appropriations bill, ostensibly for superstorm Sandy relief. The bill arguably included pork spending, and it received prudent scrutiny regarding many of its expenditures by Cruz and other fiscal conservatives. They did not merely rubber-stamp it in the usual Washington merry-go-round manner.
King belittled himself with such a gratuitous and unnecessary potshot.
Jeffrey Converse, Locust Valley
Disappointment in anthem protesters
My wife and I recently visited Omaha Beach in Normandy, France, to pay our respects to the thousands of members of our armed forces who gave their lives on D-Day and during World War II in defense of our nation and the free world. It was the July Fourth weekend, and I was struck by the beautiful condition of the American Cemetery and the enormous respect for our flag displayed by the residents of the area. At the end of the day when the flag was lowered and taps was played, all present stood in silent respect. The French workers at the cemetery corrected a few people who were talking during this solemn moment.
This is in direct contrast to some members of the NFL who refuse to stand during the playing of the national anthem [“Kearse respects Lynch’s anthem protest,” Sports, Sept. 16].
Although I’m annoyed at the players who do not honor our flag, I’m disgusted with the commissioner of the NFL and various team owners who allow this behavior.
Stephen Nasta, Great Neck
Editor’s note: The writer is a retired NYPD inspector.
If any team member, athlete, student or celebrity believes he or she is doing something positive by not showing proper respect to the national anthem, that person is mistaken.
Rather, these individuals should go into the community, speak to the police and participate in building relations.
These individuals take the easy way out by deluding themselves that this has a positive effect. What they do is similar to thinking one honors the legacy of the Rev. Martin Luther King Jr. by shopping on his holiday.
Tell these individuals to stop making believe and to do something meaningful. I also implore all those who honor the flag to boycott teams whose players disonor the flag, as well as their merchandise.