Darby, watch your language. Your eyes are dim and you cannot foresee the trend of the future. Your opinion is based on propagandas that is injected into your mind through mass media under political campaigns.
Retirement funds changes their investment based on market. And your fixed mind of the 60s cannot see that is happening already. Read this article of the past.
Renewable Energy Increasingly Attractive to Pension Funds, Oil, Insurance, Industrial Companies
Yeah, old eyes. Here's just a part of the California Public Employees Retirement System (CALPers) current inventment portfolio that I culled just for the oil companies that I recognize:
Tutlow Oil, 3 mil shares, $60 mil
Marathon Oil bonds, $27 mil
Oilstates Intl bonds, $1 mil
Apco Oil, 310,000 shares, $1 mil
ATP Oil & Gas, 111,000 shares, $1.7 mil
Cabot Oil & Gas, 220,000 shares, $14.6 mil
Carrizo Oil, 73,000 shares, $4.2 mil
Forrest Oil, 1.75 mil shares, $4.2 mil
Frontier Oil, 210,000 shares, $8 mil
Interoil, 90,000 shares, $5.3 mil
Kodiak Oil & Gas, 400,000 shares, $2.4 mil
Lukoil (A), 35,000 shares, $2.2 mil
Lukoil (B), 1.2 mil shares, $78 mil
Anadarko Petroleum (A) bonds, $27 mil
Anadarko (B) bonds, $29 mil
Marathon Petroleum bonds, $10 mil
Markwest Energy Partners bonds, $2.3 mil
Petrobras Intl bonds, $95 mil
Petroleos Mexicanos bonds, $10 mil
Whiting Petroleum bonds, $2 mil
Plains Exploration & Production bonds (A thru C), $5.3 mil
Newfield Exploration bonds, $4 mil
Ration Oil Exploration, 13 mil shares, $1.5
PTT Exploration & Production, 130,900 shares, $728 T
*
Hindustan Oil Exploration, 3,000 shares, $12 T
Celtic Exploration, 275,000 shares, $6 mil
Anver Oil Exploration, 3.3 mil shares, $2 mil
Solitario Exploration, 14,000 shares, $40 T
CALPers in just one union retirement system with a portfolio heavily invested in oil. Because it is a public employees retirement system it has to be more conservative in it's portfolio spread. Other than that it is not at all unusual in its investment choices. There are thousands of retirement systems and they are all invested similarly.
And this doesn't even touch 457(b)'s, 401(k)'s, IRA's and other personal retirement accounts that are either directly invested in oil equities and bonds and/or mutuals that are invested in oil equities and bonds.
* CALPers is currently in the process of divesting in PTT not because it is a bad investment but because it has "questionable" ties to Iran and is a company under the Iran Investment Act that must be reviewed and sold off if the Trustees believe that it is in the best interest of the fund.