Murphey Anti-Terrorism Legislation Passes House

Murphey Anti-Terrorism Legislation Passes House

Contact: State Rep. Jason Murphey
Capitol: (405) 557-7350

OKLAHOMA CITY (May 16, 2007) – Saying millions in Oklahoma taxpayers' funds have been invested in European companies supporting Iran and other terrorist-sponsoring nations, state Rep. Jason Murphey has filed House Resolution 1026 to encourage the administrators of Oklahoma pension funds to divest from those companies. The resolution passed the Oklahoma House of Representatives this week.

Murphey, R-Guthrie, noted a report by The Center for Security Policy indicated 18 percent of the Oklahoma Teachers' Retirement System and 14 percent of the Oklahoma Public Employees' Retirement System has been invested in foreign companies having an estimated $71 billion worth of projects invested in terrorist-sponsoring nations, with a large number investing in Iran.

Murphey said it is basically illegal for companies based in the United State to do business with the government of a terrorist-sponsoring nation like Iran. However, because European companies are outside the jurisdiction of the United States, they can ignore the U.S. policy prohibiting individuals from helping the government of Iran rebuild its aging infrastructure. Murphey said the revenue generated by this infrastructure can be used by Iran and other terrorist-supporting nations to arm and train Hezbollah terrorists, shelter members of Al Qaeda, build Shehab 3 ballistic missiles and even piece together nuclear bombs.

"I don't believe the average state employee, teacher and taxpayer is fully aware that their retirement funds have been used in such a manner," Murphey said. "If they were aware of this, I feel lawmakers would have little option but to enact a change of policy."

Murphey said that the aging oil supply infrastructure in Iran will make it more difficult for the Iranian government to continue their policy of financing terrorist organizations. Oil revenue is estimated to account for as much as 50 percent of Iran's revenue. However, several European companies, including those in which Oklahoma funds are invested, have snubbed their noses at U.S. policy and are working to help Iran rehabilitate infrastructure.

"Without the threat of divestment, these companies will continue to support our enemies," Murphey said.

Individuals wishing to obtain a copy of the Center for Security Policy Report may do so by visiting www.housedistrict31.com .