• 4 minutes What If Canada Had Wind and Not Oilsands?
  • 8 minutes EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 17 minutes Could oil demand collapse rapidly? Yup, sure could.
  • 6 hours Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 5 hours U.S. Withdraws From U.N. Human Rights Council
  • 5 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 1 hour "The Gasoline Car Is a Car With a Future"
  • 9 hours Could oil demand collapse rapidly? Yup, sure could.
  • 3 hours What If Canada Had Wind and Not Oilsands?
  • 2 hours Saudi Arabia turns to solar
  • 9 hours North Korea, China Discuss 'True Peace', Denuclearization
  • 3 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 10 hours WE Solutions plans to print cars
  • 2 hours EVs Could Help Coal Demand
  • 7 hours Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 10 hours Gazprom Exports to EU Hit Record
  • 15 hours Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 1 day Oil prices going down
  • 1 day Russia, Saudi Push For Big Hike In Oil Output Despite Iran Opposition
Where Will U.S. Frackers Drill Next?

Where Will U.S. Frackers Drill Next?

With oil prices having stayed…

University of Maryland To Shun Fossil Fuel Investments

Maryland University

The University System of Maryland Foundation has announced it will no longer make direct investments in fossil fuels, becoming the latest member of a growing group of educational institutions that have vowed to divest themselves of fossil fuels to fight climate change.

Interestingly, the Foundation, which takes care of the university’s US$1 billion endowment, does not actually have any major direct investments in large fossil fuel producers. Still, every gesture counts, and its divestment from the US$70 million it did have in oil, gas, and coal, was praised by environmentalists, most notable among them Bill McKibben, one of the so-called fossil fuel divestment crusaders.

Earlier this month, Stanford University came a step closer to joining the ranks of fossil fuel divestors, as a pressure group called Fossil Free Stanford announced it has collected 1,000 signatures from Stanford students and alumni pledging to withhold any future donations to their alma mater until the university exited oil, gas and coal.

Related: Is Raymond James’ $80 Oil Realistic?

Stanford is still holding onto its fossil fuel investments, although it did set up a climate taskforce, which will “actively solicit ideas from the Stanford community for ways in which Stanford can further address climate change through campus operations, research and teaching.”

According to McKibben, who is co-founder of environmental group 350.org, since the start of the fossil fuel divestment crusade, more than 500 institutions, with assets of US$ 3.4 trillion, have so far exited fossil fuels.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


x

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News