• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours Evergrande is going Belly Up.
  • 7 hours World’s Biggest Battery In California Overheats, Shuts Down
  • 30 mins U.S. Presidential Elections Status - Electoral Votes
  • 19 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 24 mins Poland Expands LNG Powered Trucking and Fueling Stations
  • 2 days And now, hybrid electric locomotives...
  • 1 day Ozone layer destruction driving global warming
  • 2 days The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 2 days The Painful Death of Coal
  • 1 day The coming Cyber Attack
  • 1 day Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 1 day 'Get A Loan,' Commerce Chief Tells Unpaid Federal Workers

Divestment Crusaders Hold Stanford Donations Hostage

Stanford alumni interrupted an annual senior gift announcement at Stanford University on Friday afternoon, vowing to holdback donations to the university until it rids itself of billions of dollars’ worth of oil investments.

The anti-oil protestors known as Fossil Free Stanford, have so far garnered over 1000 signatures from Stanford students and alumni—all who have declared their intent not to make further donations until Stanford divests itself of $22.2 billion in endowments from the oil and gas industry.

The donation freeze comes after a long-winded campaign by Fossil Free Stanford to encourage the university to divest itself of oil and gas assets in an effort to battle climate change.

In late April, Stanford’s Board of Trustees reiterated their intent to hold onto the oil investments, but announced that it would create a new climate taskforce (not climate change taskforce) to generate other ways to address climate change.

Stanford invested in three separate oil and gas companies near the end of 2014, after committing to divesting itself from tar sands and coal, including an $18.7 billion endowment in Marcellus Shale fracker Rex Energy Corp., and shares valued at $11.1 million in YPF SA and scandal-laden Petrobras Argentina SA.

Related: Does A Rising Rig Count Signal The End Of The Oil Rally?

Stanford is not the first university to fall prey to divestment crusaders, which began picking up serious steam in 2015 when Syracuse University divested itself—after an 18-day sit-in by protestors called Divest SU—from fossil fuels, representing the largest college endowment fund to do so. The oil divestment movement received even more attention after claiming victory when multiple Rockefeller-family funds—a family who made its fortune on the backs of Standard Oil and ExxonMobil—moved to shed its oil investments.

According to 350.org head Bill McKibben, at least 500 institutions representing $3.4 trillion in assets have divested themselves of fossil fuels.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Philip Branton on June 15 2016 said:
    Hmm.........interesting description made in this article. If history serves me correctly, a group of slaves left their pharaoh investors but were not called crusaders. To say that these donations are "hostage" is rather weak. It would be interesting to see just how informed college students REALLY are about the source of endowments nationwide and worldwide. Question is....do the students know where to re-invest the endowment funds..? Kudos for oilprice noting this Stanford situation.
  • Mchentrp on June 14 2016 said:
    Idiots. I see a future where we are a country of windmills and batteries.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News