By Bowne Report

September 17th, 2026 3:17 PM

Texas stands up to the world's largest asset management company

Texas Attorney General Ken Paxton was not playing the usual DC good old boy political theater when he hauled BlackRock, State Street, and Vanguard into federal court in the Eastern District of Texas.

He and a coalition of red state AGs allege the three giants of passive investing assembled controlling stakes across every major publicly traded U.S. coal producer, then used Climate Action 100+ and the Net Zero Asset Managers Initiative as a coordination mechanism to force those companies to slash thermal coal output by more than half by 2030.

The result, according to the complaint, was a manufactured constriction of supply that drove electricity prices higher for ordinary Americans while the asset managers collected the upside on their remaining energy holdings.

See the video at the following weblink:

https://www.alexjoneslive.com/2026/09/17/blackrocks-growing-energy-empire-has-gone-too-far/