The Rest of the Story

To the editor:

In response to the letter “SBOE Cuts Public School Funding.” Let’s start with the title. Talk about grossly misleading. I am a concerned voter and an avid supporter of the truth and what’s best for Texas and the Country. Here’s the rest of the story.

Mr. Kinsey was following Texas Senate Bill 13 which prohibits state investments in companies that boycott energy companies. BlackRock Investment Co. is as woke as they get. They are the epitome of cynical political calculations, reckless moves, and making investment choices purely based on politics.

Definition of divestment - the act of reducing financial exposure to an asset to better achieve financial goals. In other words, Mr. Kinsey is removing SBOE’s investments from their current investment company to place the funds where they can get a better return. There is zero proof that this move “could lead to higher fees and lower returns…”. This is just uninformed whiney woke simpletons who have no concept of return on investment trying to scare people. Guessing it never occurred to them that investments in oil and gas companies is good for Texas.

According to Governing. com, as of January 31, 2024, information Texas oil and natural gas industries contributed $26.3 BILLION in state and local tax revenue and royalties which translates to an extraordinary $72 million every day that pays for Texas’ public schools, universities, roads, first responders and other essential services. For those who don’t know, Governing. com provides non-partisan news, insight and analysis on budget and finance and more.

Sandy Hooper La Grange