A feud between Oklahoma's Republican state treasurer and attorney general that erupted last year over the defense of an anti-environmental, social, and governance law expanded and intensified this week.
Attorney General Gentner Drummond was accused by Treasurer Todd Russ of "crossing constitutional lanes of government."
"AG Drummond's behavior reveals efforts to centralize power in ways that violate the state treasurer's constitutional authority and bypass long-standing processes of financial stewardship," a Tuesday statement from Russ' office said.
In response, Drummond, who is running for governor, issued a statement saying he takes seriously his "obligation to ensure compliance with Oklahoma laws relating to procurement processes and protecting Oklahoma's interests."
In an April 17 letter to Russ, Drummond said his office stopped the treasurer's attempt to "outsource Oklahoma's sovereignty to New York" by amending documents related to the Oklahoma Tobacco Settlement Endowment Trust's investment in the NBPD Eagle Fund to prevent "future litigation" from being heard in New York, not Oklahoma courts.
The trust's board of investors, which Russ chairs, petitioned the Oklahoma Supreme Court on April 15 to
Drummond's letter also repeated his criticism of Russ' handling of a lawsuit challenging the constitutionality of Oklahoma's Energy Discrimination Elimination Act of 2022.
"My office intervened to protect Oklahoma's oil and gas industry from discrimination by financial institutions kowtowing to a radical leftist agenda," the letter stated.
After a state judge in July issued a
The law, which bans state and local government contracts with financial firms and banks deemed to be "boycotting" the fossil fuel industry, led to several, including BlackRock, being blacklisted by the treasurer for municipal bond underwriting and investment purposes.
Russ' statement said Drummond initially declined to defend the act, adding "it was later revealed the AG had close working relationships with the investment company BlackRock, one of the companies involved in ESG investing."
Phil Bacharach, Drummond's spokesman, called that claim "total garbage."
"The attorney general had a single meeting with BlackRock at its request, just as Gov. (Kevin) Stitt had," he said in an email. "[Attorney] General Drummond hears people out. That is the extent of it, and the treasurer knows that."
A bill that failed to advance in the Oklahoma Legislature this year
"As written, it would have turned financial and fiduciary expertise of one constitutional officer into legal judgments, making it harder to ensure proper management and protection of the state's funds," Russ' statement said.
