ECONOMY, THEY SAY, AND JOINING
ME RIGHT NOW TO WEIGH IN IS WEST
VIRGINIA ATTORNEY GENERAL
PATRICK MORE CIVIL AG, THERE IS
SO -- PATRICK MORRISEY.
AG, THERE IS SO MUCH TO DISCUSS
TODAY.
I’M GOING TO START WITH THIS
BILL, YOUR THOUGHTS ON JOE
MANCHIN AGREEING TO THIS,
KYRSTEN SINEMA WE UNDERSTAND IS
GOING TO SUPPORT IT SINCE THEY
HAVE TAKEN OUT THE CARRIED
INTEREST TAX.
YOUR THOUGHTS?
>> LOOK, IT’S DEEPLY
DISHEARTENING FOR SENATOR
MANCHIN TO REALLY PUT THIS BILL
TOGETHER.
I COULDN’T THINK OF A BILL THAT
YOU COULD DRAFT THAT WOULD BE
WORSE FOR WEST VIRGINIA RIGHT
NOW.
I’VE READ BIG CHUNKS OF THIS
BILL AND FROM AN ENERGY
PERSPECTIVE, THIS IS LIGHTS OUT
TIME FOR OUR STATE.
WHAT THEY’RE TRYING TO DO IS
DRAMATICALLY ALTER THE AMOUNT OF
ENERGY THAT WE’RE USING IN THE
FORM OF COAL, SHIFT IT OVER TO
RENEWABLES BUT THEY’RE DOING IT
IN SUCH A FAST MANNER.
IF THEY SUCCEED IN THEIR QUICK
40% REDUCTION OF CARBON
EMISSIONS AND WEST VIRGINIA’S
PART OF THAT BY THIS SHORT
TIMEFRAME THEY’RE TALKING ABOUT
THE WEST VIRGINIA ANY IS GOING
TO GO IN A -- ECONOMY IS GOING
TO GO IN A VERY BAD DIRECTION.
I’M DEEPLY DISTURBED BY WHAT
THIS BILL DOES, I’M DEEPLY
DISAPPOINTED BY SENATOR
MANCHIN’S DECISION TO PUT THIS
UP AND DRIVE IT.
IT’S GOING TO BE INFLATIONARY.
AND LET ME SAY THERE ARE MAJOR
TAX INCREASES IN THERE.
THE TAX FOUNDATION SAYS THAT THE
COAL INDUSTRY’S GOING TO BEAR
THE BIGGEST BURDEN OF THIS NEW
ALTERNATIVE MINIMUM TAX AND
THERE ARE PLENTY OF PROVISIONS
IN HERE WHICH ARE TERRIBLE FOR
WEST VIRGINIA AND AMERICA.
WE COULD SPEND A LOT OF TIME,
MARIA, GOING THROUGH THIS BILL
BUT 87,000 IRS AGENTS, A LOT OF
NEW BLOATED SPENDING ADDING TO
THE DEFICIT AND A OBVIOUSLY THIS
IS NOT WHAT THE ECONOMY NEEDS
WHEN IT’S ALREADY OVERHEATED IN
TERMS OF THE BIDEN ENERGY AGENDA
DRIVING UP INFLATION.
MARIA: YEAH.
AND THE FACT THAT WE ARE IN FACT
RIGHT NOW IN A RECESSION.
EQUALLY DISTURBING IS THIS
BORDER CRISIS.
I WANT TO GET YOUR TAKE ON THIS
VIDEO THAT WE’RE WATCHING RIGHT
NOW.
THIS IS THE BUS THAT IS AT PORT
AUTHORITY NOW.
IT IS CARRYING ILLEGAL MIGRANTS.
THEY ARE NOW DESCENDING ONTO THE
STREETS OF MANHATTAN.
OF COURSE, WE KNOW ALMOST
2 MILLION ILLEGAL MIGRANTS HAVE
CROSSED INTO AMERICA ON JOE
BIDEN’S WATCH.
THE MAYORS OF NEW YORK AND
WASHINGTON ARE COMPLAINING.
THEY’RE SAYING, LOOK, WHY DO WE
HAVE TO DEAL WITH ALL OF THESE
ILLEGAL MIGRANTS, KEEP THEM IN
TEXAS.
OF COURSE, THEY DON’T STAY IN
TEXAS.
THEY GO ALL OVER THE COUNTRY
BECAUSE JOE BIDEN AND THE
DEMOCRATS HAVE THIS WIDE OPEN
BORDER POLICY.
YOU’VE BEEN SUING THE
ADMINISTRATION FOR A NUMBER OF
REASONS.
WHAT IS YOUR TAKE NOW ON THESE
MIGRANTS COMING OFF THE BUS NOW
IN NEW YORK CITY?
WE DON’T KNOW THEIR PLANS.
>> WELL, YEAH, NO, SADLY THIS
IS ALL FORESEEABLE, RIGHT,
BECAUSE IF YOU HAVE A POLICY
THAT ALLOWS HORDES AND A HORDES
OF PEOPLE TO COME ACROSS THE
BORDER, YOU’RE NOT ENFORCING THE
LAW, YOU HAVE HUMAN TRAFFICKING
AND DRUG TRAFFICKING RUNNING
AMOCK, IT’S ONLY A MATTER OF
TIME BEFORE A LOT OF THESE FOLKS
FAN OUT ACROSS THE COUNTRY AND
LO AND BEHOLD, A LOT OF THE SAME
PEOPLE THAT WERE TOUTING THE
BIDEN ADMINISTRATION’S LIES, THE
MAYORS OF A LOT OF THESE CITIES
REALIZE THERE ARE REAL PROBLEMS
WITH CRIME, WITH HUMAN
TRAFFICKING, WITH DRUG
TRAFFICKING AND THEY DON’T KNOW
WHAT TO DO WITH THESE PEOPLE.
THERE IS NO COHERENT POLICY COME
FIELD GOAL THE BIDEN
ADMINISTRATION ON IMMIGRATION.
IN FACT, THE ONLY THING WE KNOW
THAT THEY STAND FOR IS THEY WANT
TO STOP THE STATES, STATES LIKE
TEXAS, STATES LIKE ARIZONA, LIKE
WEST VIRGINIA, THAT HAVE BEEN
BEGGING THEM, PUSHING THEM,
SUING THEM TO HAVE COHERENT
POLICIESES.
THIS IS WORSE THAN WE’VE EVER
SEEN IT.
AND IT’S OBVIOUSLY VERY
DELIBERATE.
MARIA, YOU MENTIONED THE PHRASE
EARLIER, WHICH I WANT TO REPEAT
RIGHT NOW.
DERELICTION OF DUTY OF ALL OF
THE ASPECTS OF THE BIDEN
ADMINISTRATION THAT HAVE REALLY
BEEN PROBLEMATIC FOR OUR ECONOMY
AND FOR OUR PEOPLE, I CAN’T
THINK OF A WORSE ONE THAN WHAT
HE’S ALLOWING TO HAVE HAPPEN AT
THE BORDER AND IT’S SHAMEFUL AND
I WISH THAT ALL OF AMERICA COULD
SEE THE GOOD WORK YOU’RE DOING
AND THE COVERAGE OF THIS BECAUSE
UNFORTUNATELY A LOT OF PEOPLE
DON’T REALIZE THESE ARE REAL
PROBLEMS AND THERE WILL BE
INCREASED CRIME.
THERE WILL BE INCREASED DRUGS.
THERE WILL BE MANY PROBLEMS
FLOWING.
YOU’RE SEEING PICTURES OF IT IN
NEW YORK.
MARIA: YEAH.
WELL, LOOK, AG, I WANT TO TURN
TO ANOTHER POLICY OUT OF THE
BIDEN ADMINISTRATION AND IT’S
SORT OF A CHOIR HE ETER POLICY
-- QUIETER POLICY AND THAT IS TO
BAN FOSSIL FUELS.
YOUR STATE IS PUSHING BACK,
SAYING THEY’RE NOT GOING TO DO
BUSINESS WITH ANY COMPANY THAT
BLACKLISTS FOSSIL FUELS.
THE WALL STREET JOURNAL WROTE AN
EDITORIAL SAYING WEST VIRGINIA
VERSUS POLITICAL BANKS, SHOWING
HOW WEST VIRGINIA IS LEADING THE
CHARGE AGAINST BANKS
BLACKLISTING FOSSIL FUELS.
THEY SAY THEY’RE NOT GOING TO DO
BUSINESS WITH BLACKROCK, WITH
WELLS FARGO, WITH JP MORGAN,
MORGAN STANLEY, AND GOLDMAN
SACHS BECAUSE THEY ARE
BLACKLISTINGS FOSSIL FUELS.
I SPOKE WITH THE CEO OF BANK OF
AMERICA LAST WEEK, BRIAN
MOYNIHAN, HE SAID HE’S DOING IT
ALL.
HE’S GOING TO BANK NEW ENERGY
COMPANIES BUT HE’S ALSO GOING TO
BANK FOSSIL FUEL.
HERE’S WHAT HE SAID.
WATCH.
>> WE HAVE $40 BILLION IN
OUTSTANDING LOANS WITH FOSSIL
FUEL COMPANIES.
YOU LOOK, WE’RE ONE OF THE TOP
FIVE LENDERS FOSSIL FUEL
COMPANIES.
WE’RE THE TOP ORIGINATOR OF
GREEN BONDS THIS YEAR.
WE HAVE TO HAVE A JUST
TRANSITION.
THE ENERGY INDEPENDENCE OF
AMERICA HAS BEEN A BIG ASSET.
WE’VE GOT TO WATCH OVER THE NEXT
SEVERAL DECADES THAT ENERGY
TRANSITION TAKE PLACE.
WE NEED OIL AND GAS COMPANIES TO
BE STRONG AND WE NEED ENERGY AND
IT TAKES ALL KINDS.
THAT’S WHAT WE BELIEVE IN.
WE GET CHRIS CRITICIZED OF BEING
GREEN ON ONE SIDE AND LENDING TO
FOSSIL FUEL COMPANIES ON THE
OTHER.
THAT’S PROBABLY RIGHT THEN.
MARIA: SO WHAT ABOUT THAT, AG?
PATRICK, YOUR TREASURER’S NOT
GOING TO DO BUSINESS WITH ALL
THOSE OTHER BANKS.
BANK OF AMERICA SAYS THEY’LL
BANK FOSSIL FUELS.
ASSESS THE SITUATION FOR US.
>> WHAT YOU’VE SEEN OVER THE
PAST NUMBER OF YEARS, THERE’S
BEEN A GREAT DEAL OF ACTIVISM TO
MOVE THIS ESG MOVEMENT.
THE GOVERNMENT IS IN IT AS WELL.
THEY’VE BEEN TRYING TO ASSERT
THE REGULATORY AUTHORITY TO
REGULATE IN THE SPACE AND A
WE’VE HAD GREAT SUCCESS IN
SAYING, WAIT, YOU’RE NOT THE
AUTHORITY TO RAPIDLY MOVE ALL
THESE PEOPLE OR FORCE PEOPLE
AWAY FROM FOSSIL FUELS.
SO WHAT THEY’VE DONE NOW IS NOW
THEY’RE WHISPERING IN ALL THE
CORPORATE BOARDS, PUTTING A LOT
OF PRESSURE ON THEM TO ACT.
HERE’S THE SIMPLE MESSAGE FOR
THEM.
IF YOU’RE GOING TO DO BUSINESS
IN A STATE THAT’S REALLY
DEPENDENT ON FOSSIL FUELS OR
JUST WANTS TO MAKE SURE THAT THE
MARKET WORKS, YOU SHOULD BE
PREPARED FOR THE CONSEQUENCES
WHEN YOU TARGET STATES LIKE WEST
VIRGINIA.
THAT’S WHAT’S HAPPENING RIGHT
NOW.
THEY’RE GOING AFTER OUR STATES,
MAKING IT MORE DIFFICULT FOR
LEGITIMATE BUSINESSES TO ENGAGE
IN ACTIVITY THAT HELP OUR
CITIZENS.
IF YOU DO THAT, YOU’RE NOT GOING
TO DO BUSINESS WITH OUR STATE.
AND IT’S NOT JUST WEST VIRGINIA.
WE’RE TALKING ABOUT A BROAD
COALITION OF STATES, 24 STATES
IN THE COALITION THAT WE’VE BEEN
HEADING AGAINST THE ESG MOVEMENT
COMING OUT OF THE SECURITIES AND
EXCHANGE COMMISSION.
15 STATES COMING OUT OF THE
TREASURER’S COALITION.
THAT’S A POWERFUL COMBINATION
AND IF WE ALL WORK TOGETHER,
BOY, THAT’S GOING TO MAKE A BIG
DIFFERENCE TO SEND A MESSAGE TO
THESE FOLKS, DON’T ENGAGE IN
POLITICAL ACTIVITIES IF YOU
DON’T WANT TO SEE A HE A RESPONS
RETURN.
MARIA: ISN’T IT INTERESTING
THAT YOU’VE GOT A FIRM LIKE
BLACKROCK, AG, WHO IS TELLING
EVERYBODY THEY’RE EVERYBODY’S
NUMBER ONE SHAREHOLDER AND YOU
BETTER GET ON THE ESG BOARD.
THEY ARE OKAY BLACKLISTING
FOSSIL FUELS BUT THEY’RE OKAY
TELLING INVESTORS TO TRIPLE DOWN
ON OWNING CHINESE EQUITIES, THE
VERY COMPANIES TIED TO THE CCP
THAT WANT TO OVERTAKE THE UNITED
STATES AS THE NUMBER ONE SUPER
POWER.
NO FOSSIL FUELS IN WEST VIRGINIA
BUT OKAY TO CCP TIED COMPANIES.
>> YEAH.
OBVIOUSLY THE INCONSISTENCY OF
THIS IS OFF THE CHARTS.
BUT ONE OF THE THINGS THAT WE’RE
DOING IS WE’RE LOOKING CLOSELY
AT A LOT OF THESE ACTIVITIES.
ESG RAISES SERIOUS CONCERNS IN
TERMS OF CONSUMER, ANTI-TRUST,
AND OBVIOUSLY THEY’RE MORPHING
THE S.E.C. INTO SOMETHING IT’S
NOT.
MARIA: OKAY.
ALL RIGHT.
WE WILL LEAVE IT THERE, AG
PATRICK MORRISEY, GREAT TO SEE
YOU.
THANKS VERY MUCH.
WE’LL BE FOLLOWING ALL OF YOUR
LEADERSHIP, PATRICK MORRISEY