Resolution bars future investments in Total oil stocks

The University’s Social Concerns Committee passed a resolution Thursday against further stock investment in Total, an oil company building a pipeline in Burma.
Although the University’s Office of Asset Management sold off the remainder of the stock earlier this year, the committee wanted to make sure it wasn’t picked up again.
The resolution will ensure that no investments are made with Total until the political situation in Burma changes. It also requires the University to be sensitive when dealing with other cases such as the one in Burma.
Burma, a country in Southeast Asia, has been a source of controversy since 1988, when an oppressive military regime took control. The Minnesota Free Burma Coalition, the force behind the resolution, is upset because they say Total’s money goes to support the regime.
“This is the first big hurdle,” said Drew Hempel, the coalition’s founder.
The resolution goes next to the University Faculty Senate, which will make the final decision on the issue. Although no date is set, the senate is expected to make a decision before the school year ends.
— Emily Dalnodar