Yale Shuns (Some) Oil Stocks

Yale University aims to reduce its carbon emissions to zero by 2050. Meanwhile, it has issued a list of oil stocks in which it will not invest. Take that, Exxon! Shove off, Chevron! Bye bye, BP! 

Oh, wait. None of the above appear on Yale’s hit list of over 40 shunned oil stocks. According to the university’s list of guiding principles, “investable” oil companies produce fossil fuels only because no cleaner alternatives are readily available and take visible steps to reduce emissions where possible. Exxon, Chevron and BP apparently get passing grades. 

Determining when alternative energy sources are readily available can  be tricky. As Jim Gust called to my attention, Californians owning electric-powered vehicles probably shouldn’t expect that state's overstressed electric system to power them up this summer.