Real Clear Markets

The Proxy Voting War Is One That The Right Needs to Engage In

by Justin Danhof
July 10, 2020

Liberals used to abhor “big business,” railed against monopolistic markets, and complained about allegedly rigged votes. But now that big business regularly supports liberal causes and a monopolistic market has allowed the left to rig hundreds of votes, liberal loudmouths aren’t complaining. They’re crowing.

I refer not to votes for presidents or members of Congress but rather corporate proxy ballots.

Think about that for a second.

A majority of Chevron’s investors are demanding that the American energy company expend scarce resources to align its policies with an international agreement that the United States is smartly exiting. As the Heritage Foundation explains, America is rightly exiting the Paris climate accord because “it was a truly bad deal—bad for American taxpayers, [and] American energy companies.”

Yet Chevron’s investors seem to want to push the company right back into this crooked covenant. And they are doing so during a global pandemic that is seeing oil and gas revenues plummet.

Politico called this a “watershed moment for activists.”