Crony corporate billionaires investing in so-called energy are destroying the competition to make their investment work.
The U.S. Securities and Exchange Act filings indicate that mega-billionaire George Soros has purchased one million shares of Peabody Energy and 553,200 shares of Arch Coal, the two largest publicly traded U.S. coal companies. They are near bankruptcy thanks to the war on coal Soros supports.
If he were a true environmentalist, he’d shut them down but what he will probably do is corner the coal market, what’s left of it.
Soros likes to jump in and buy up entities once he has brought down their value or destroyed them.
The bigger news is that, in addition to gaining favor with politicians for their investments, the corporatists have hijacked non-profit environmental groups.
A new report released recently from the Energy & Environment Legal Institute documents how the Sierra Club’s largest donors accrue economic benefits from the group.
Corporatists funnel millions into environmentalists’ efforts to shut down traditional energy sources for the benefit of their own investments.
Bloomberg, a former mayor of New York City, says “coal’s days are numbered,” and recently announced $30 million in support for the Sierra Club’s goal of eliminating half of all coal plants in the United States by 2017.
The $30 million dollar donation comes on top of the $50 million he supplied in 2011. Other billionaires such as Nathaniel Simons, Roger Sant, David Gelbaum and Tom Steyer are also funding their efforts.
Michael Bloomberg is invested in Clean Energy Finance but it is about so much more than that for him. Bloomberg is a totalitarian who has decided what we can smoke, what we can drink and how we will heat our homes, He knows best.
Coal provides the largest share of domestic production of all energy sources, and shuttering a large number of plants will prove damaging and costly for consumers. That’s exactly what the Sierra Club’s large donors are counting on as they move in to fill the energy void their political cronies created.
The Sierra Club’s Beyond Coal campaign has a huge war chest and an intense lobbying apparatus thanks to the closing of almost 200 coal plants in only three years.
They have a cozy relationship with the EPA and worked closely with them on “sue and settle” scams.
“Sue and Settle” is when an environmental group and a federal agency agree to enter into a lawsuit with a predetermined result while pretending it’s a legitimate case that’s being settled. The environmental group sues and the agency puts the onerous rules in place as a result, rules they wanted.
The cost of so-called clean energy, which does not include nuclear, will be exorbitant no matter how much they claim the prices are coming down. The components for solar have to be outsourced to China where they use slave labor.
There was a time when America didn’t believe in using slave labor.
These corporatists are not trying to win by providing a better product, they are winning by destroying the competition.
According to the leader of the Beyond Coal campaign, Bruce Niles, “Once we’ve taken out coal, we’ll need to take on oil.”
Source: Palm Beach Post and Bloomberg Philanthropies