GOP states sue ESG 'cartel': BlackRock, Vanguard, State Street accused of manipulating energy market



A coalition of 11 Republican-led states filed a lawsuit on Wednesday against BlackRock, Vanguard Group, and State Street Corporation, accusing the three asset managers of violating antitrust laws.

According to the complaint, the companies' promotion of environmental, social, and governance standards resulted in less coal production and higher energy prices.

Companies 'formed a cartel to rig the coal market.'

The lawsuit stated that the financial institutions "artificially constrained the supply of coal, significantly diminished competition in the markets for coal, increased energy prices for American consumers, and produced cartel-level profits" for themselves by leveraging their power.

Reuters reported that the three financial institutions have more than $26 trillion in assets under their management.

The companies have pressured coal companies to reduce their carbon emission by more than 50% by 2030, the complaint noted.

"Competitive markets — not the dictates of far-flung asset managers — should determine the price Americans pay for electricity," it read.

The coalition of states — including Alabama, Arkansas, Indiana, Iowa, Kansas, Missouri, Montana, Nebraska, West Virginia, and Wyoming — was led by Texas Attorney General Ken Paxton (R).

Paxton accused the asset managers of "illegally conspiring to manipulate energy markets."

"These firms also deceived thousands of investors who elected to invest in non-ESG funds to maximize their profits. Yet these funds pursued ESG strategies notwithstanding the defendants' representations to the contrary," he claimed.

The lawsuit accused BlackRock of "actively deceiving investors about the nature of its funds" by using all of its holdings, even those in non-ESG funds, to advance its climate goals.

Paxton told Turning Point USA founder and CEO Charlie Kirk that the reduced coal production forces the U.S. to purchase more energy overseas.

"It's affecting consumers in all kinds of ways," he said.

Paxton wrote in a post on X, "Texas will not tolerate the illegal weaponization of the financial industry in service of a destructive, politicized 'environmental' agenda. BlackRock, Vanguard, and State Street formed a cartel to rig the coal market, artificially reduce the energy supply, and raise prices. Their conspiracy has harmed American energy production and hurt consumers. This is a stunning violation of State and federal law."

BlackRock said in a statement to Bloomberg that the lawsuit "undermines Texas' pro-business reputation."

"The suggestion that BlackRock invested money in companies with the goal of harming those companies is baseless and defies common sense," the company said.

Vanguard Group and State Street Corporation did not respond to a request for comment from Reuters or Bloomberg.

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Heartland states reject left's culture of death by voting down abortion



Voters in South Dakota, Nebraska, and Florida decisively chose to protect the lives of the unborn, voting against abortion measures, according to the latest election results.

This election cycle, so-called abortion "rights" were on the ballot in seven other states, including Maryland, Colorado, Missouri, Montana, Nevada, Arizona, and New York.

'Being pro-life is NOT a losing issue.'

South Dakota voters defeated Amendment G, which, if passed, would have legalized abortions in all situations in the first trimester of pregnancy. It, too, would have allowed the state to determine when to permit abortions during the second trimester but "only in ways that are reasonably related to the physical health of the pregnant woman." Abortions in the third trimester could have been legalized as well when "necessary, in the medical judgment of the woman's physician, to preserve the life and health of the pregnant woman."

After the Supreme Court overturned Roe v. Wade, South Dakota banned abortion except in situations in which it is necessary to preserve the mother's life.

Pro-life voters won in a landslide, rejecting Amendment G with a 19-point margin. All but four South Dakota counties voted against the measure.

This election cycle, Nebraska had two abortion-related measures on the ballot, including the "Right to Abortion Initiative" and the "Protect Women and Children" initiative.

The first measure, Measure 439, aimed to amend the state's constitution, enshrining the right to infanticide until viability or when deemed necessary to protect the mother's health. The second measure intended to amend the state's constitution to ban abortions after the first trimester, with exceptions for medical emergencies, sexual assault, and incest.

Nebraska voters rejected Measure 439, which sought to expand the legalization of abortion, and instead supported Measure 434, an initiative that enshrines the state's existing 12-week abortion ban.

According to the Associated Press' election results reporting, just over 51% of voters cast their ballots against the measure.

In Florida, voters defeated Amendment 4, which would have effectively legalized late-term abortions by amending the state's constitution, Blaze News previously reported. The measure required 60% approval to pass but received just 57.1% of the vote.

BlazeTV’s Liz Wheeler stated, “Amendment 4 in Florida which would’ve legalized abortion til the moment of birth has FAILED.”

“Praise the Lord,” she continued. “This is in [sic] incredible victory ... and also an incredible lesson for Republicans. Being pro-life is NOT a losing issue.”

President-elect Donald Trump secured victories in all three states where abortion measures were shot down.

While the pro-life movement had a few wins on Election Day, abortion amendments passed in several other states, including Arizona, Colorado, Maryland, Montana, and Nevada.

In Missouri, voters passed Amendment 3, which will create a constitutional right to abortion. However, it also will allow the legislature to regulate access to abortion past the first trimester.

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Republicans flip 3rd US Senate seat, this time in Montana



Republican candidate Tim Sheehy won the election for Montana's U.S. Senate seat early Wednesday, defeating three-term Democratic incumbent Jon Tester.

Sheehy secured 53% of the vote while Tester earned only 45.2% of the vote, according to Politico.

Tester has served in the Senate for three terms since 2006, winning each election by slim margins. While Tester is a Democrat, Montana is known to be a ruby-red state that Trump-endorsed Sheehy had long been projected to win.

"THANK YOU, MONTANA!!" Sheehy said in a post on X. "We The People made our voices heard, we completed our mission, and now we will secure our children’s future and save America together!!"

Montana was one of the Senate races thought to guarantee Republicans an electoral edge to regain control of the Senate. So far, Republicans have flipped West Virginia and Ohio, securing the GOP's Senate majority.

As Election Day approached, Tester and other vulnerable Democratic senators like Sherrod Brown of Ohio and Bob Casey of Pennsylvania made an effort to moderate their positions and distance themselves from the Democratic Party.

Tester's campaign emphasized points of bipartisanship and even aired an ad called "Republicans for Tester" that featured legislative accomplishments that former President Donald Trump signed off on.

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Elephant in the Upper Chamber: Republicans Take the Senate

Republicans have officially flipped control of the Senate, an outcome that was long expected thanks to a favorable electoral map that included Democrat-held seats in Trump-friendly West Virginia, Montana, and Ohio.

Republicans went into Election Day with a two-seat deficit in the upper chamber, one that election analysts widely expected the party to erase by flipping West Virginia and Montana. Former Democrat Joe Manchin (W.V.) effectively handed his seat to Republican coal magnate Jim Justice when he declined to run for reelection in November, while polls showed Montana's Jon Tester consistently trailing his GOP opponent, former Navy SEAL Tim Sheehy. Justice won by more than 40 points, while Sheehy led by 6 points early Wednesday morning.

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