I have always believed that global warming is a gigantic scam, driven by greed and lust for power. Now comes the shocking news, via Steve Milloy writing on Breitbart, that following President Obama’s use of CO2 emissions as a weapon to drive major coal companies near bankruptcy, the ultimate politically connected speculator George Soros is buying up stock in major coal producers on the cheap.
I predicted last week that the left wasn’t going to kill off the coal industry so much as it was going to steal it. That prediction is already becoming true courtesy of billionaire George Soros.
U.S. Securities and Exchange Act filings indicate that Soros has purchased an initial 1 million shares of Peabody Energy and 553,200 shares of Arch Coal, the two largest publicly traded U.S. coal companies. As pointed out last week, both companies have been driven perilously close to bankruptcy by the combination of President Obama’s “war on coal” and inexpensive natural gas brought on by the hydro fracturing revolution.
Under the hypothesis that not even socialists would leave trillions of dollars worth of a perfectly safe and clean energy source in the ground for the sake of the imaginary “climate crisis,” I posited that once the existing coal industry ownership was wiped out by President Obama’s regulatory onslaught, a new politically correct ownership would rehabilitate the fuel by contributing to Democrats.
Enter George Soros, a hardball investor and philanthropist to myriad left-wing causes, including the activist and “clean energy” rent-seeking movements that have helped take down the coal industry. In 2009, for example, Soros announced he would spend $1 billion in “clean energy” technology and create a San Francisco-based advocacy organization called the Climate Policy Initiative.
Less than a year ago the Soros’ Climate Policy Initiative issued a major report concluding that the world could save $1.8 trillion over the next two decades by transitioning away from coal. The report referred to coal reserves as “stranded assets” that were losing value as they were no longer needed.
For now, Soros’s investments are small scale (by his standards), but the reports end with June, so there is no knowing what subsequent investments have been made. These companies own huge reserves of coal that would be worth far more if the jihad against coal ended. If, for instance, the EPA backs away from its latest rules on CO2 emissions.
Written by Thomas Lifson.
Billionaire George Soros gave advice and direction on how President Obama should allocate so-called “stimulus” money in a series of regular private meetings and consultations with White House senior advisers even as Soros was making investments in areas affected by the stimulus program.
George Soros met with President Obama’s top economist on February 25, 2009 and twice more with senior officials in the Old Executive Office Building on March 24th and 25th as the stimulus plan was being crafted. Later, Mr. Soros also participated in discussions on financial reform.
Then, in the first quarter of 2009, Mr. Soros went on a stock buying spree in companies that ultimately benefited from the federal stimulus. Here are some examples:
Soros doubled his holdings in medical manufacturer Hologic, a company that benefited from stimulus spending on medical systems.
Soros tripled his holdings in fiber channel and software maker Emulus, a company that wound up scoring a large amount of federal funds going to infrastructure spending.
Soros bought 210,000 shares in Cisco Systems, which came up big in the stimulus lottery.
Soros also bought Extreme Networks, which, months later, said it was expanding broadband to rural America “as part of President Obama’s broadband strategy”.
Soros bought 1.5 million shares in American Electric Power, a company Mr. Obama gave $1 billion to in June 2009.
Soros bought shares in utility company Ameren, which bagged a $540 million Department of Energy loan.
Soros bought 250,000 shares of Public Service Enterprise Group, 500,000 shares of NRG Energy, and almost a million shares of Entergy—all companies that came up winners in the Department of Energy taxpayer giveaway that produced the Solyndra debacle.
Soros bought into BioFuel Energy, a company that benefitted when the EPA announced a regulation on ethanol.
Soros bought Powerspan in April 2009. Just weeks later, the clean-energy company landed $100 million from the Department of Energy.
In the second quarter of 2009, Soros bought education technology giant Blackboard, which became a big recipient of education stimulus money.
Soros also bought Burlington Northern Santa Fe and CSX, both beneficiaries of Mr. Obama’s plans for revitalizing the railroads.
Soros bought Cognizant Technology Solutions, which scored stimulus funds in education and health care technology.
Soros also bought 300,000 shares of Constellation Energy Group and 4.6 million shares of Covanta, both of which landed taxpayers’ money through the stimulus, the former of which bagged $200 million.
If one percent of what is reported about the Obama administration is true, he should have been impeached years ago!
Before anyone leaves Obama’s administration, they all need to be held accountable for their actions while serving under his administration. They are all running for their lives and trying to find a safe haven.
We should not let them escape without punishment , for what they have put on our country !
Too bad conservatives did not feel that way about George Bush as he was collapsing the economy ? Blinded by bigotry they criticize the one who brought America back from the GOP disaster again ! How soon they forget & think we have forgotten the worst administration ever !
Brought it back? Your on that legal weed, Obama just took everyone out of the workforce to adjust the numbers, real success. He’s an epic failure, Bush loves America while Obama despises it.
Jason, you are 100% correct! It’s not the weed but the fact that nobama is a muslim that is part of the muslim brotherhood and has a plan to take our country out of our control and put it under the control of Islam. Nobama HATES this country and anyone who believes that we aren’t in big, big trouble with this pos fraud president. We must never give him our guns! It’s sure looking like we will need everyone of them to save our country from destruction. We must turn our eyes upon Jesus and He will save us, but time is short!
The GOP (RUN by moslems) is as guilty as the Dems. -they merged into a giant corrupt party– The BHO administration is traitorous in oh so many ways and WE THE PEOPLE have none in our corner —
Obama doubled the debt and accelerated the destruction of the Middle East. The Fed kicked the can down the road with QE. There has been no economic growth since Obama took office.
HE didnt asshole. it was your precious democrat party that did. You cant stop hating can you?
You are clueless. Bush was horrible but Obama is a continuation of that.
Anything that bounced back has nothing to do with Obama; under a GOOD President we would have not just naturally bounced back because of our economic engines, we would have ADVANCED FORWARD. Obama is horrible.
We will never forget
Good luck with that.
Washington politicians sign a pledge to protect the United States Constitution against enemies, foreign and domestic. I was in the military and signed the pledge also. People who have violated their oath of office, violated the Constitution or constitutional laws should be arrested and given a speedy and fair trial.
For example, Amendments 5 and 14 protect the (1) life, (2) liberty and (3) property of every US citizen. Our government has violated each one of these rights. For specific examples, search my website.
Amen … I knew obama was born in africa, not an american when he was running for his first term, all of his actions were aimed at taking . our rights away and benefiting the muslems.
You are right! But in my country we do not have such freedom to say it free!
Impeachment is a JOKE
That was the goal all along…it’s the Rothcilds way.
I always knew global warming was a scam. People are so gullible.
Yes you are.
Global Warming is a hoax. See http://www.petitionproject.org/
My thoughts exactly Dr. Russell. Also, insider
trading is ILLEGAL. As we have learned the DOJ
and the Attorney General has been bought
behind closed doors and on airplanes. As we have
seen this year the Clinton’s are “above the law”
and worth more than one hundred million dollars
due to illegal deals, mostly with the Muslim
countries and Muslim contributions to the Clinton Foundation. Obama is no president, he has
completely destroyed America. His support of
Hillary is to continue his agenda. Global Warming
is a sham, Obama is a joke and Hillary is a
nightmare. Wake Up America. Make your vote
count this September.
You have to be the lowest information moron to believe this crap. One look up all the scams mentioned in this article. From climate change ( which is supported by basically every expert besides those being directly funded by oil and coal companies) to the stimulus ( which basically never got implemented due to Republicans willingness to sacrifice the American people for their own political gains.) you are ignoring the vast amount information in order to maintain your pre conceived notions. This is the principle of cognitive dissonance and you all suffer from it. Look it up because I’m sure very few have ever heard of it. In the end Soros did what all financial managers would do. By cheep energy stocks. If you really want to look for corruption maybe look at the fact the Kochs have pledged to spend a billion dollars of their own money on this next election. Can you say buying the election?
Gordon, you can’t fully support what you said with any reputable sources or facts. So I will provide some for your consideration. For instance, how about the founder of the Weather Channel saying that Global warming is the greatest scam in history. Or numerous news reports saying “Global Warming is a $22 Billion Scam.” Not to mention the public documents buried right in the government’s own environmental studies — that destroys their argument for “global warming.
Nevertheless you apparently support the idea on how the earth is rapidly heating up . . . causing drought and mayhem.
For sure, the media jumps on the “global warming” story every time there is a heat wave and each time a hurricane hits the East Coast.
But how much has the world really warmed?
Well, according to NASA’s own data, the world has warmed .36 degrees Fahrenheit over the last 35 years (they started measuring the data in 1979).
I think you would agree that a .36 degree increase in temperature over the last 35 years is hardly anything to get in a panic about.
Granted, that does mean the world is warmer, right?
The problem with that argument is that we experienced the bulk of that warming between 1979 and 1998 . . . we’ve actually had temperatures DROPPING ever since!
Gordon. . . the facts about the falsehood of global warming are out there if you simply look.
But don’t despair, I do somewhat agree with your statement saying the “Kochs have pledged to spend a billion dollars of their own money on this next election. Can you say buying the election?”
I fear Gordon has the same psychological background that most Obama supporters are suffering from:
As the famous Dr. Freud said, “Man has an extreme passion for authority and wishes to be governed by an unrestricted force.” People give up a portion of their individuality in order to have a sense of participation. They transfer child-like obedience to their parents to a leader; they slavishly follow this leader. Their seemingly mindless dependence is actually a desire to be governed.
Troy, I don’t think you can use NASA to back up your denial of climate change.
And obviously the temperature data has changed since you checked with them last:
Troy … you need to check the NASA and NOVA data more carefully. There are a significant number of additional sources worth checking. BUT … have you ever asked … who is running the SCAM? Do you hold you sources to different standards base on your personal bias.
p.s. as an old man, man’s impact on the planet is real and terribly negative but I wont live long enough for it to effect me… AND … it is already too late and it cannot be solved … apologies to my and your great grandchildren. I should have done more before 2000.
A “lowest information moron” here!
You certainly fit every description of those who have drunk the Global Warming KoolAid put out by the “highest information morons” out there!
All the regulations pushed by progressive Liberals. Make me think of Patrick Henry do You all remember his quote?
What’s funny here is though the article us rife with hyperbole and outright lies what it is basically describing is capitalism. Is capitalism bad when progressives do it but good when right wing Christians do it. You Christo cueballs are a funny lot. Peace be with you all.
Uh that isn’t capitalism. That is the display of socialism.
No, that’s called “Insider Trading” which is illegal.
Hyperbole is the prerogative of journalism, and isn’t wrong as long as it is backed up by facts.
Speaking of which, which “outright lies” are you referring to? Since you took the time to comment, one would think you would take the time to backup your charge with examples/facts.
That’s what I said, isn’t that like insider trading, and isn’t that illegal?!
Peabody is a publicly-owned company, right? Anybody could have bought those shares and it may well have been the Koch brothers. Breitbart makes a living throwing out crap like this-what moron actually takes it seriously? As for global warming, you would do well to let the scientists find the science,instead of just saying what you want to be the science. Again, consider the source.
The first order of business for the next president should be a through investigation of the Obama years with all its cozy deals, influence peddling and crony capitalism. That should give the FBI and the Justice Department plenty to keep them busy.
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That is illegal. Congress mewls along.
obumer is a bastered .he got rid of all our mens jobs and now he is laughing his ass off..hope he goes to hell.