Fossil fuels a losing asset for investors

On Feb. 9, the Senate Committee on Judiciary and Labor is scheduled to vote on Senate Bill 2155, which would mandate divestment from fossil fuels for the Employees’ Retirement System. It should advance the bill to the Ways and Means Committee.

Oil prices are at a 13-year low. Coal is down 87 percent since 2007. Together, California’s two major public pension funds lost more than $5 billion on energy- related investments for their latest fiscal years. The fossil fuel age is ending, and markets are reacting.

Globally, the renewables explosion and impending avalanche of post-Paris carbon regulations are surprising many who’ve ignored warnings and studies. Divesting would have saved Bill Gates’ Foundation $1.9 billion by now. How much of retirees’ $600 million to $800 million invested in fossil fuels did ERS lose last year?

The energy sector’s radical, rapid change demands unusual, immediate attention. Waiting will only increase losses. SB 2155 needs to pass.

Brodie Lockard

Kailua

Create a safe place for homeless to live

Michael Totten’s article should be mandatory reading for all government officials and social service providers who deal with the homeless (“Homeless in Portland build themselves community of tiny homes — and hope,” Star-Advertiser, Jan. 31).

He points out that 10-year social services plans to end homelessness haven’t worked, and that the homeless really don’t want to stop using drugs or dealing with rules and structure.

Since the homeless insist on living near the ocean, the obvious place for them is Sand Island. Designate a place there to accommodate a basic temporary tent city similar to the Dignity Village complex Totten describes in Portland, Ore. These allocate small individual parcels to pitch tents or construct tiny structures. Occupants elect leaders, pay $35 monthly space rentals, and get water, electricity and sanitation. Residents must live by some basic, but not overbearing, rules.

Oahu’s homeless deserve a decent living space of their own versus being shuffled around, but they must be required to live there instead of our oceanfront public parks.

Bradley A. Coates

Waikiki

Lawmakers should impose tax on REITs

As a senior citizen concerned about the high taxes that Hawaii citizens pay, I’m surprised the Star-Advertiser did not say, “Lawmakers target REITS to restore tax revenue” (“Lawmakers target REITs for added tax revenue,” Feb. 1).

All real estate owners in Hawaii should pay the same taxes on operating revenue and sales profits. This is a special-interest law and tax loophole.

With Hawaii’s 1.4 million population, the state government needs this tax money restored. The federal government has often imposed the wrong laws for Hawaii because it didn’t consider the state’s high cost of living and lower wages, making it difficult to live here.

All working households must speak out, or we will have to pay higher taxes to make up for this loss of tax revenue.

Also, REITS are buying our highest income-generating properties, causing property taxes to continue to rise. Homes are already unaffordable for most of our young people.

Allan Lock

Waialae Nui Valley

Mayor’s promise just smoke and mirrors

Mayor Kirk Caldwell said he will not increase property taxes to pay for rail operations and maintenance.

That makes for good publicity, but Caldwell will not be mayor when the rail is finally completed sometime around 2023.

Like previous promises by mayors who championed rail, the cost, completion date, amount of general excise tax surcharge receipts, stations, amenities, rail car configurations and other assurances are just so much smoke and mirrors.

Even the executive director of the Honolulu Authority for Rapid Transportation hedged when commenting on the five-year surcharge extension, saying essentially “based on our current estimates, this should be enough to complete rail.” That’s a lot of wiggle room.

Caldwell’s promise is not a lie, just more smoke and mirrors.

Let’s see if we can hold future mayors and City Council members to pledge not to raise property taxes to pay for any part of rail, before we elect them.

Peter Chisteckoff

Mililani Mauka

Lanikai barriers installed illegally

Lanikai is different now. It’s unsightly and overcrowded with a mismatch of dilapidated houses next to mansions built one on top of the other.

Cars are carelessly parked between the unsightly rocks, trees and barriers that the residents have irresponsibly and illegally put in front of their homes. It is a safety hazard and unattractive.

To mitigate the traffic concerns and enhance the look of the neighborhood, they should follow the law and remove the numerous illegal barriers blocking the easement and available parking.

Candas Lee Rego

Kailua

Don’t step all over UH athletics program

We should be counting our blessings for having this year’s magical University of Hawaii men’s basketball team and how its members are teaching all of us to overcome adversity by believing in each other.

The NCAA sanctions could have been a sinking-ship situation, in which everyone jumped out and left us high and dry. But they have pulled together and matured to be the kind of men who exemplify honor and courage.

The arena is jammed, and jams and rocks. The fans are better than any Final Four crowd. The second-string players carry the spirit and make their own contributions to winning.

Let the legislators look upon this as the reason not to step all over our UH athletics program. Reward that giant heart the basketball team has and support them and all sports programs that will produce exceptional young people.

Go ’Bows!

James Fukumoto

Aiea