Activists have been pressing investment managers to divest from oil companies as they seek to make things more difficult for the fossil fuel industry. In response, Texas has passed a law that makes it illegal for investment managers doing business in the state to divest from oil companies. Now, the state’s comptroller is beginning efforts to enforce the law. Texas is at the forefront of the effort to push back against activist investors’ efforts to punish the oil industry, as several other states have since passed similar legislation.
