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Oklahoma’s officials will team up with officials from various other states to ask Dave Jones, Commissioner, California Insurance, to stop a policy that pressures companies to release fossil fuel investments and separate from the coal industry because it will only confuse consumers and yield unnecessary politics into the insurance market.
Jones believes that the investments could be risky because of the move from fossil fuels to renewable energy triggered by climate change.
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Mike Hunter, Attorney General, Oklahoma, said that he sent a letter signed by 11 other state attorneys general and Kentucky’s governor because Jones’ assertion is wrong and threatens energy and insurance companies and violates the U.S. Constitution. Meanwhile, John Doak, Commissioner, Oklahoma Insurance, sent a similar letter, which was signed by five other state insurance commissioners, as posted in a McClatchy DC Bureau website. In a news release, Hunter described the policy as a “ham-handed extremist environmental policy.”
“One in every four Oklahomans work in the energy industry, and the California Insurance Commissioner’s threats stand to harm families, businesses and insurance carriers in our state. This misguided policy is negligent, politically driven, unrelated to insurance regulation and is risking a certain lawsuit,” Hunter added.
