Harvard is a leader in woke investing by eschewing investments in fossil fuels, gun makers and other stocks, companies and funds it feels fail the liberal litmus test, but because of this policy, its investment portfolio is losing big time. Meanwhile, in stark contrast, the University of Texas is raking in huge profits by selling oil drilling leases on land it owns and has made so much money that it rivals the much richer and older Harvard in revenue. In a recent report on the oil revenue being earned by the University of Texas (UT), Bloomberg noted that the school owns 2.1 million acres in the Permian Basin situated in the Lone Star State. UT’s land, “almost the size of Delaware and Rhode Island combined,” is being leased to more than 250 drilling operations, including ConocoPhillips and Continental Resources, Inc., and the drilling leases are bringing a bounty to the school. Bloomberg reported that the land is set to “post its best-ever annual revenue in fiscal 2022.” Much of this is due to the high prices of oil, of course. Bloomberg added that “oil reached a high of $120 a barrel earlier this year as a result of a war-induced energy crunch. The revenue is expected to help narrow the gap between the Texas system’s $42.9 billion endowment and Harvard’s $53.2 billion as of June 2021.” “The University of Texas has a cash windfall when everyone is looking at a potential cash crunch,” William Goetzmann, a professor of finance and management studies at Yale University’s School of Management, told Bloomberg. “Adjusting your portfolio for social concerns is not costless.” Without a doubt, the millions that UT is earning from its oil drilling program will keep the school in cash for decades to come and will help the school weather any lean times, at least for a while. In fact, UT has come close to toppling the Ivy League easterners in investments, Bloomberg wrote. Harvard’s “annualized 10-year returns as of June 2021 are among the lowest of its peers in the eight-school Ivy League, according to Bloomberg data.” But Texas is swimming in returns. “The University of Texas System last overtook Yale’s endowment in 2018 as the second-richest US university because of rising oil prices,” Bloomberg reported, adding that UT has topped Harvard’s fellow Ivy League school, Yale. UT is not banking solely on revenue from its vast oil fields, granted. It also has heavy investments in wind and solar power facilities. But right now, oil is bringing in dividends. Naturally, being a left-wing outlet, Bloomberg did its best to undermine UT by blaming it for helping fuel the climate crisis with its investments. Bloomberg gave space in its UT story to the climate change alarmist group named Environment Texas, whose representative told Bloomberg, “This is money that’s helping to fuel the climate crisis. I think that many students and faculty don’t know where the money is coming from. And when they find out, I think they will be shocked and very much opposed to this dirty money. It’s not something we should be celebrating.” Whatever it is or isn’t, UT’s oil concerns are bringing millions in dividends. Ultra-rich Harvard, on the other hand, has not been so fortunate. Its $53.2 billion endowment as of last year may seem massive, but it could have been so much more if not for its woke investing policy. In June, the Harvard Crimson newspaper said that 41 of the 44 companies that Harvard’s investment arm, the Harvard Management Co., has thrown the school’s cash at have lost money in the first quarter of 2022. As a result, the IBL News reported, Harvard saw a decline of 43 percent in its stock portfolio during that quarter. Worse, that first quarter decline is no outlier. In a report from last year, the Crimson told its readers that Harvard Management Co. has underperformed for the last 12 years in a row, and its investment policies left millions unearned. So, despite the outrageous base of over $50,000 a year for tuition, and its humongous $53 billion endowment, the school’s investment policies have actually hurt it. Harvard is certainly not “broke” by any means. However, its policies prove the veracity to the idea that going woke eventually means going broke. This article appeared originally on The Western Journal.