Student Government resolution to divest from PetroChina

Calling for the University of Texas Investment Management Company to divest immediately and completely from PetroChina and calling for chief investment officer Bob Boldt to issue either a justification or apology for approving of the UT System's $215,000,000 investment in PetroChina

WHEREAS: As of September of 2002, the University of Texas Investment Management Company had $215,000,000 invested in PetroChina;

WHEREAS: PetroChina, a subsidiary of China National Petroleum Company, has attracted revenues of approximately $200,000,000 a year to the Sudanese government;

WHEREAS: Hassan al Turabi, General Secretary of the ruling National Congress of Sudan, acknowledged that profits from China National Petroleum Company helped the Sudanese government to stockpile tanks and missles for use in his genocidal assault against Black Christians and animists in Southern Sudan;

WHEREAS: The aforementioned attacks have already claimed the lives of more than 2,000,000 people;

WHEREAS: In March of 2002, Gaspar Biro, a human rights monitor for the United Nations reported that in Sudan "abducted children are often sent to camps that become 20th century slave markets;"

WHEREAS: A 2000 Amnesty International report states that in Sudan "in addition to air attacks, government troops on the ground reprotedly drove people out of their homes by committing gross human rights violations; male villagers were killed in mass executions; women and children were nailed to trees with spikes;"

WHEREAS: According to the London Economist, in 1990 a woman or child could be bought in Sudan for $15;

WHEREAS: The New York Times reported of Sudan: the "militias armed by the Government...raid villages...shoot the men and enslave the women and children. These are kept as personal property or marched north and sold...many of the children are auctioned off;"

WHEREAS: The Sudanese government has granted amnesty to Osama bin Laden;

WHEREAS: Bob Boldt serves as president, chief executive and chief investment officer of The University of Texas Investment Management Company;

THEREFORE BE IT RESOLVED THAT the student body of the University of Texas at Austin denounces the UT System's link to the slave trading, terrorism and human rights abuses committed by the Sudanese government;

THEREFORE BE IT FURTHER RESOLVED THAT the student body of the the University of Texas at Austin demands that the University of Texas Investment Management Company divest immediately and completely from PetroChina;

THEREFORE BE IT FURTHER RESOLVED THAT the student body of the University of Texas calls for Bob Boldt to publically issue either an apology or justification for approving of the University of Texas Investment Management Company's decision to invest $215,000,000 in PetroChina;

Authored by: Jordan Buckley (Two Year at Large Representative) and A. E. Smith (Contumacy)

Sponsored by: Jordan Buckley (Two Year at Large Representative)