Hill Heat

Last night, Hillary Clinton attended a gala fundraiser in Philadelphia at the headquarters of Franklin Square Capital Partners, a major investor in the fossil-fuel industry, particularly domestic fracking. The controversial fracking industry is particularly powerful in Pennsylvania, which will host the Democratic National Convention this July.

Clinton has avoided taking any clear stand on fracking. While she has embraced the Clean Power Plan, which assumes a strong increase in natural-gas power plants, she also supports a much deeper investment in solar electricity than the baseline plan. The pro-Clinton Super PAC Correct the Record, run by David Brock, touts Clinton’s aggressive pro-fracking record.

Numerous grassroots groups have risen to oppose the toxic fracking of Pennsylvania and its labor abuses, including Marcellus Protest, No Fracking Way, Pennsylvanians Against Fracking, Keep Tap Water Safe, Stop Fracking Now, and Stop the Frack Attack.

As reported by the Intercept’s Lee Fang, “One of Franklin Square Capital’s investment funds, the FS Energy & Power Fund” the Intercept’s Lee Fang reports, “is heavily invested in fossil fuel companies, including offshore oil drilling and fracking.” The company cautions that “changes to laws and increased regulation or restrictions on the use of hydraulic fracturing may adversely impact” the fund’s performance.

Through its fund, Franklin Square invests in private fracking and oil drilling companies across the nation, as well as Canada and the Gulf of Mexico. This includes heavy investment in Pennsylvania frackers.

Franklin Square companies in the Pennsylvania fracking industry

• Ameriforge Group
• Atlas Resource Partners
• Cactus Wellhead
• Calpine
• Chief Oil & Gas
• Cimarron Energy
• Crestwood
• Dynegy
• Eclipse Resources
• EV Energy Partners
• Exterran Partners
• Gardner Denver
• Global Partners
• Gruden Acquisition
• Kenan Advantage Group
• Moxie Liberty
• Murray Energy Corp
• PeroxyChem
• Vantage Energy
• Warren Resources
• Zachry Holdings

Bold indicates a company that runs fracking wells in Pennsylvania (Eclipse Resources is a Pennsylvania-based company with fracking operations in Ohio). The other companies listed are industry service companies with business in Pennsylvania, including pipelines, trucking, chemicals, and power plants. Murray Energy runs coal mining operations in Pennsylvania.

Tickets to the event ranged from $1,000 to $27,000. Contributors at the $2,700 level got a photo taken with Clinton, and the $27,000 contributors were afforded the opportunity to meet and hear Jon Bon Jovi perform an acoustic set.

Pennsylvania Congressman Keith Rothfus of the 12th District rejects the scientific fact of anthropogenic global warming. In a 2010 interview unearthed by Hill Heat, then-candidate Rothfus (R-Penn.) said he was “dubious” that global warming was “man-made” or a “fact.”

“I do not believe it’s man-made, and I am not convinced that it’s a fact. I think the science is still out. I think for the last 15 years we haven’t had any warming. I think you go back when we had a medieval warm period, where we were growing crops in Greenland. We could do that maybe if we kept warming up over the next 20 to 30 years. I do think the jury’s out on that. I’m very dubious as to whether or not this is what they call anthropogenic, man-made. When you talk about 280 parts per billion [sic] I think of carbon, these are very small amounts.”

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In reality, the carbon-dioxide greenhouse effect is a physical fact known since the 1800s. The only scientifically plausible explanation for the rapid warming of the planetary climate since 1950 is industrial greenhouse pollution. Rothfus was off on his estimation of the concentration of carbon dioxide in the atmosphere by a factor of 1000. Carbon dioxide levels have risen from pre-industrial concentrations of 280 parts per million to the present-day 400 parts per million, a 40 percent increase. Because of the hundreds of billions of tons of industrial carbon dioxide added to the atmosphere, the global climate is continuing to warm, with every decade since the 1970s warmer than the last, and the impacts of global warming are accelerating faster than scientists projected.

The so-called Medieval Warm Period was a period between the 10th to 15th centuries of higher than average solar radiation and lower than average volcanic activity where some parts of the world, including Greenland, were about as warm as have been in the past decade. During that period the global climate was significantly cooler than the present day.