LD 1461

When word of President's Obama's intent to expand carbon dioxide emissions restrictions to existing coal plants became public, coal stock values plummeted. Because the Maine Public Employees Retirement System invests in coal, it lost value overnight. Our dedicated public employees need financial security. They won't have it if their retirement depends on fossil fuel earnings.Rep. Brian Jones of Freedom has introduced LD 1461, a bill requiring the state to divest itself of fossil fuel stocks. The bill will have a public hearing before the Joint Committee on Appropriations and Financial Affairs at 2 p.m. Jan. 9, in Room 228 of the State House. Just as divestment became an important tool in ending apartheid in South Africa, it can be a powerful instrument in the dismantling of the fossil fuel economy that is wrecking our planet.

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