Rick Perry says that the lawsuit by Ken Buckston against Black Rock and others are misleading

A lawsuit submitted by the Texas Pactino Prosecutor against Blackrock, State Street and Vanguard claiming that they colluded in manipulating the coal market can harm us Coal companies If companies are forced to get rid, according to a company.

The Buckston suit, which was presented in November 2024 and joined by 10 other states, claims that the three asset managers formed a cartel for the coal market, restricting energy supplies and increasing prices. The lawsuit claims that asset managers violated federalism and state Anti -monopoly lawsIn addition to the consumer protection laws in Texas, using their stock holdings to influence coal companies to reduce their production in line with the goals of the climate initiatives they joined.

president Donald TrumpFormer Energy Minister, Rick PerryIn an editorial in the Washington Times, the lawsuit called “misleading” and says it threatens to undermine the Trump energy agenda.

“If it succeeds, this lawsuit can force an estimated $ 18 billion of coal -related holdings from the books of the main asset managers,” Perry wrote. “This is not just numbers on a spreadsheet; it is a direct threat to coal companies’ ability to increase capital and financing infrastructure and job support.”

He continued, “This is the time to encourage more energy production, not less. Time to attract investment, not to remove it. And a time to build infrastructure, not burial in litigation,” he added.

Perry also said that coal production has decreased in the United States due to the market forces and not because of any complicity by investment companies.

“This is what the competition seems to. The American energy mix has evolved because consumers and companies demanded reliable power at reasonable prices,” he wrote.

The three asset managers were opposed to the claim of the case, on the pretext that there was no complicity and that companies sought to represent the best financial interests of their customers. Blackrock has also been a problem with the states that seek to withdraw investments by companies as a possible treatment for the issue, which argues that he will undermine the Trump administration’s goal in energy independence.

Trump, the supervisor, is back away from energy production with an “aggressive agenda” in the main sector. Biden reflects a “energy war”

In the wake of the court’s ruling, which rejected some claims to protect the consumer, while allowing others to go ahead Trump administration Energy agenda.

Black Rock said: “By pursuing forced disposal, the Public Prosecutor undermines the goal of the Trump administration of the independence of US energy. Forcing to get rid of the ability of coal companies to destroy the capacity of capital and invest in their business and jobs, which probably leads to high energy prices for Americans,” said Black Rock.

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index	protection	last	Changing	% Change
BLK	Blackrock Inc.	1,129.92	-1.96	-0.17 %
STT	State Street Corp.	115.21	+0.36	+0.31 %

Phil Flynn, chief executive of the market and market analyst at the Price Futures Group and Fox Business Network, said in an interview that the case comes in the wake of “a lot of political pressure” on financial institutions to enhance green energy amid restriction Coal regulations In the United States and Europe, where this experience changed the views of companies.

“I think that the companies that started to pay ESG were a change in the heart because they realized that they were making their investors’ taxes,” Flynn said. “When they started withdrawing their money from coal, natural gas and oil, the returns were not there when they had to invest in non -competitive energy sources and reduce their carbon mark.”

The White House warns of electricity prices due to the demand for artificial intelligence if the United States does not enhance energy production.

“I can see their argument: they say” he is heat, if we withdraw our money, it will not invest, it will collapse, we are the only game in the city. “

“But if there is a viable action plan and profits that can be achieved, and the organizational stigma that was placed on coal in a global market disappears, there may be more people who invest.” “I think both sides have a point, but it will be difficult to prove that they are the only game in the city, and that they are the only investors who invest in this field.”

Earlier this month, American boycott court Judge Jeremy Kirnodel rejected three of the 21 charges against asset managers, which allowed the case to follow up.

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