The Senate gave its approval this week to House Bill 2034, known as the Energy Discrimination Elimination Act of 2022. Senate author Senator Mark Allen says it would require the state to divest from any financial company that boycotts the energy industry.
“This legislation would ensure the state of Oklahoma is free from discrimination against the fossil-fuel industry and does not support corporations that put political ideology ahead of the interests of taxpayers, shareholders and residents,” Allen said. “More than six percent of our state’s jobs are produced by traditional energy – triple the national average. By divesting from and prohibiting state contracts with companies that boycott this industry, we can bolster support for the employees and jobs created by oil and gas and safeguard the interests of Oklahoma’s citizens and economy.”
HB 2034 now returns to the House for final approval. The principal author is Representative Mark McBride.
“Oklahoma is the state fossil fuels built,” McBride said. “Oil and gas are extremely significant to Oklahomans and our overall economy, and this bill protects our interests from a global movement that attacks the use of fossil fuels. I’m glad to see the passage of this important legislation, and I’m grateful to Senator Allen for his persistence in seeing this through the legislative process.”
Texas passed a similar law last year and is implementing it now. West Virginia and Louisiana are considering divestment bills, too.
