NORTH DAKOTA (KXNET) — The leader of the Republican Party in North Dakota, Perrie Schaffer, is speaking out in an exclusive and wide-ranging interview with KX News.

The interview comes at a time when Republican elected officials including Attorney General Drew Wrigley and Lt. Governor Brent Sanford and members of the State Investment Board (SIB) are refusing to respond to questions about how your tax dollars are being invested.

But, North Dakota Republican Party Chairman Perrie Schaffer is answering our questions, and he is offering some strong advice to his party based on his expertise in the financial services industry.

Chairman Perrier Schaffer is the leader of the Republican Party in the state, but he is also a successful 40-year veteran in the field of financial advising and investing. He understands the financial industry inside and out.

Schaffer is well-aware that our State Investment Board has hired banks and money managers that, on one hand, are being handed millions in our tax dollars while, on the other hand, oppose investing in our fossil fuel industry.

“All we can do is sound the alarm, to be very honest as the leader of the Republican party in North Dakota. Sound the alarm as to what those investments are. And, the lack of communication that they have in this industry from a Wall Street standpoint. They are not helpful to any state that’s producing energy products,” explained North Dakota Republican Party Chairman Perrie Schaffer. “But, it’s becoming well-known because people like myself and others within our state are sounding the alarm in respectful ways as we move forward.”

Schaffer is also aware that these banks belong to a group called the Net-Zero Banking Alliance. A group backed by the United Nations and committed to passing out the use of fossil fuels in the future, that prescribes an investment philosophy called ESG: Environmental, Social, Governance.

“I think it’s s large banking play on controlling the energy industry is what I think it is. The Environmental, Governance, Social doesn’t make any sense to me as an investor. A matter of fact, most of the large investor firms that I have totally focused on ESG investing are not very popular. Most of them are not as popular as they once were when they came out because simply we as Americans, as a world consumer, we cannot afford to go backward with respect to our electricity electron manufacturing process,” explained Schaffer.

We asked Chairman Schaffer if banks and money managers should, at a minimum, commit to supporting the industry before they receive money from our Legacy and pension funds:

“Absolutely. Without a doubt. No question about it. Not to get in the weeds on this, but from a coal generation standpoint, or on an electron generation standpoint, or a wealth management standpoint — we can’t survive without electrons being products with fossil fuels,” explained Schaffer. “We don’t need to experience brownouts and blackouts in the 21st Century.”

Schaffer said he is strongly aligned with Senator Kevin Cramer — agreeing that the four banks that the State Investment Board has hired who are members of the Net-Zero Banking Alliance should be fired.

“I agree with Senator Cramer on that 100%. Absolutely. A matter of fact we talked about it when I was out in D.C. this week. Again, I think it’s a play from the large banks to want to control the energy industry. And, when you have a very small group of people that want to control anything, [they’re] probably leaning in the wrong direction,” said Schaffer.

So where does this issue go from here? Will our Attorney General and the State Investment Board take Chairman Schaffer’s advice, or will they continue to refuse to answer questions about this issue?

In the meantime, a multi-state investigation is well underway into serious allegations of consumer fraud, deceptive trade practices, and anti-trust violations by banks and money managers working right here in North Dakota.

KX News will continue to follow up on our interview with Mr. Schaffer and work to get some answers for the taxpayers of North Dakota. After all, it’s your money.

KX News has reached out to the Net-Zero Banking Alliance and all four banks and so far they have not agreed to interview.

In the next report, we will dig into the actual dollar amounts these banks are getting from the North Dakota pension and public funds.