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Show A case for divestment HR211 would block state pension fund managers from investing in Iranian oil David Smith Guest writer A United States soldier is stationed in Iraq. This soldier is away from his home, his family, and his children. Today, this soldier will go on patrol to defend a people from a faceless enemy. This enemy funds some of the groups threatening to rob this soldier's children of a father. Back home in Utah, this soldier's childhood friend realized a small dollar gain in his pension fund. Part of it came from a petroleum company that generates profit for Iran who in turn uses it to fund terror and illicit nuclear programs. Since the Iranian revolution in 1979, Iran has been gaining international attention. The country's president (Mahmud Ahmadinejad) has denied the occurrence of the holocaust, called Israel a "stinking corpse" while concurrently denying its sovereign right to exist, and is engaging in various proxy wars around the world. Iran is the leading state sponsor of terrorism in financially and politically backing Hamas in Gaza, Hezbollah in Lebanon, and various militant groups in Iraq. In 1968 Iran signed the Nuclear Non Proliferation Treaty. This treaty was designed to minimize and ultimately eliminate further nuclear proliferation and provide for the responsible disarmament of the existing nine nuclear states. In spite of this, Iran has been engaged in a nuclear development program for years. A National Intelligence Estimate published in 2007 confirms that Iran was actively pursuing the development of weapons grade uranium and plutonium until 2003. However, strong evidence indicates that Iran still has a weapons program under the guise of a "peaceful nuclear energy" initiative. The United States congress formed a commission, who, in a 2008 report titled "World at Risk." asserts that Iran "continues to develop a range of technical capabili- no consideration of the ramities, including a civilian ura- fications faced by our troops nium enrichment program, in the region. Most of the international that could be used to produce nuclear weapons." Further, community agrees that interaccording to President Ach- vention is required. The first madenijad, in November of option is that of diplomacy. 2007 Iran had 3000 func- The United States has had a tional centrifuges. These policy for the tenure of the centrifuges are sufficient to Bush administration to not produce the highly enriched directly engage Iran in any Uranium necessary for a diplomatic efforts. Though nuclear warhead. Accord- this may change with Presiing to the same commission, dent Obama, it is unlikely Iran has purchased nuclear that the United States will be weapons-capable ballistic very effective in "talking" missiles from North Korea Iran out of its nuclear ambicapable of reaching Eastern tions. The second approach China, most of India, South- would be a military option. However, the ern Russia, BeUnited States larus, Ukraine, will likely not Egypt and 29 Utah is in a have the finanother countries unique position cial or miliwithin that ra- this legislative tary resources dius. If Iran stays cycle to pass to engage Iran on target with its a state bill (HR militarily withUranium enrich211) sponsored out incurring a ment progress, substantial debt the NIE estimates by Represenand engaging in Iran could have tative Fisher a massive realenough enriched that will elimilocation of our Uranium for a nate Utah state thinly spread nuclear weapon pension fund troops. by the end of investments in 2009. The third and most viable What would the Iranian peoption would be a nuclear Iran troleum sector. crippling Iran's mean for the Utah's pension economic sysregion and the fund is curtem through world? The first economic implication is rently investing sanctions and a total of $55.2 that of a nuclear d ivestments. arms race in the million in nineMiddle East. A teen foreign en- Iran's economy is in dire straits. frenzy of research and develop- ergy companies Their "official" unemployment ment would take with holdings Photo courtesy of http://dan.iella.net/ in Iran's petrorate is at 17% place igniting a (though this new era of "mu- leum sector. Iranian President Mahmoud Ahmadinejad has expressed offensive statements in recent years, number is like- about the Jewish holocaust as well as the modern State of Israel tual ly assured ly higher) and destruction" defense tactics. Additionally, their inflation is at 30%. A nuclear aspirations. The sponsored by Representa- this would undoubtedly get it would negate 48 years of little more than 80% of their mounting anger of the Irani- tive Fisher that will elimi- Iran's attention and put them the NPT's work to eliminate budget is made up of com- an populace could balloon if nate Utah state pension fund in a position to cater to the proliferation. The second modities, chiefly petroleum. the economic situation wors- investments in the Iranian demands of the international implication would be the le- Their 2009 budgetary pro- ens. This presents the perfect petroleum sector. Utah' s community. verage Iran would hold over jections were based on the opportunity to put an end to pension fund is currently inThis would greatly reduce other Middle Eastern coun- price of a barrel of oil stay- the Iranian problem without vesting a total of $55.2 mil- their military funding to tertries unable to develop this ing in the $140 range. How- jeopardizing our troops, fis- lion in nineteen foreign ener- ror groups combating forces technology. We could liter- ever, since the plunging of cal status, or principles. gy companies with holdings all over the region, and more ally watch Iran seize power oil in recent weeks Iran has The money invested in in Iran's petroleum sector. importantly, reduce the of territories and states in the undoubtedly entered into a Iran through, United States Switching these investments funding for their nuclear deMiddle East broadening its critical economic situation. companies and state gov- to alternate energy compa- velopment programs. power and control. Thirdly, They will not receive the ernments has been linked to nies in the same sector will As a result, tonight, our we could very possibly see money necessary to sustain Iranian activities of terror, have no effect on the pen- soldier may sleep a little easthe first nuclear detonation their exhausted subsidy pro- proliferation, and murder. sion holder, and would serve ier knowing that the threat is on the planet since Hiroshi- grams (which are now criti- Utah is in a unique posi- another blow to the Iranian a little smaller. ma and Nagasaki, possibly cal for civilian welfare) and tion this legislative cycle to infrastructure. The NIE was on Israel. This analysis takes further development of their pass a state bill (HR 211) clear that efforts such as Partisan Pelosi pushes stimulus package through Congress Dave Iba Photo editor Not too long into the Obama administration there seems to be a problem. To name a few of them; economy, economy and economy. Although this recession can't really be blamed on Pres. Obama, it is, however, now his problem to deal with. Already on Capitol Hill we can see the Democrats with a few problems; squandering their advantage and threatening to snatch defeat from the jaws of victory. A big credit goes to House Speaker Nancy Pelosi for getting that ball rolling. Under her leadership House Democrats excluded the Republicans from having any voice in the building and crafting of the stimulus package. Acting like children who hadn't seen Santa for eight years, House Dem- the lack of Republican supocrats prolificaliy loaded up port and if it was partly her the bill with stuff they have fault she gave a short, almost only been dreaming of for snotty answer about not beeight years under the Bush ing partisan but working for administration. It was pay- the American people. Sure. back time. Pelosi is apContraception, ^ ^ ^ ™ ^ " " • ^ ^ ™ parently tone funding the arts, Pelosi is appar- deaf to the disrestoration of the ently tone deaf gust and disnational mall, stop- to the disgust appointment smoking programs. Americans and disappoint- of All while Ameriwith the bailcans were losing ment of Ameriout package their homes, jobs, cans with the for Wall Street and their savings. bailout packand the banks It was childish age for Wall last year, as Street and the and disgraceful. well as the votThe bill passed the banks last year ers' strongly House without a as well as the stated desire single Republican voters' strongly for change, vote. Despite the stated desire for represented by efforts by Obama change. . . the election to reach out to the of President other side, Pelosi Obama. House decided to take Democrats are matters into her own hands. setting the table for failure, When she was asked about and after Bush we are ready for something else. My guess is Pres. Obama is busy these days sticking pins in his Pelosi doll. To his credit, Obama argued against a lot of the "pork" while stressing that time is our enemy. Apparently Pelosi couldn't care less. When the legislation finally hit the Senate floor, amid the cries for more stimulus and less pork, the Republicans pounced. This time could have and would have been much better time spent possibly putting the stimulus package to work and not fighting over things that could have been settled in the House. They want more tax cuts and more real stimulus - stuff that will create jobs now. Not some proposal that may pay dividends years down the road. And they're right. Now that the bill has been finally passed we can get to work. If you are wondering, this is how the bill sized up, according to The Washington Post • • • • • • • • • About 525 billion, 64% would be put into the economy within 19 months through spending and tax breaks. Heath and Human Services, labor, education. 91.3 billion Tax provisions - 897 billion State fiscal stabilization fund - 79 billion Energy and water - 48.9 billion Assistance for unemployed workers and struggling families-45.7 billion Health insurance assistance for the unemployed - 40.8 billion Agriculture, nutrition and rural development 26.9 billion Heath information technology - 20.2 billion {Information collected from http'7/www.Washingtonpost.com/) check us out online at www.uvureview.com |