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Why is the rum gone?
Finally
11 State Attorneys General, Led by Ken Paxton, Take on BlackRock, Vanguard, and State Street in Groundbreaking Anti-Trust Lawsuit Over Coal Market Manipulation
https://www.thegatewaypundit.com/2024/11/11-state-attorneys-general-led-ken-paxton-take/
A groundbreaking lawsuit filed in the United States District Court for the Eastern District of Texas accuses financial giants BlackRock, Vanguard, and State Street of colluding to manipulate the U.S. coal market.
The case, spearheaded by Texas Attorney General Ken Paxton and supported by 10 other state attorneys general, alleges that these firms have used their substantial ownership stakes in major coal producers to suppress competition and artificially raise energy prices.
The states listed as plaintiffs are”
Texas
Alabama
Arkansas
Indiana
Iowa
Kansas
Missouri
Montana
Nebraska
West Virginia
Wyoming
According to the 108-page complaint, BlackRock, Vanguard, and State Street collectively hold controlling stakes in multiple coal companies, including Peabody Energy and Arch Resources, which account for significant portions of U.S. coal production.
The suit alleges that these firms formed an “output-reduction syndicate,” leveraging their shareholder influence to force coal companies to cut production, ostensibly in alignment with environmental goals like the Net Zero Asset Managers Initiative.
The complaint details how these firms’ actions have allegedly suppressed coal supply despite rising demand for electricity. The result? Skyrocketing coal prices and increased costs for consumers at a time when many are already grappling with inflation.
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