Obama Drives Coal Company Stock Down in Price, Soros Buys Them Up
Obama Drives Coal Company Stock Down in Price, Soros Buys Them Up
Progressives are, by their very nature, politically and morally corrupt using fake crises like climate change in order to justify creating regulations for businesses in the private sector to redistribute wealth.
Well, it looks like President Obama — the fake Robin Hood — has been using the whole global warming thing to drive coal companies near bankruptcy, then conveniently George Soros swoops in and buys up the stock for insanely cheap prices.
Very, very interesting…
From American Thinker:
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 in this column 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 hydrofracturing 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.
As per usual, a pet cause of the left has nothing to do with actually solving a problem facing our nation or humanity at large, and has everything to do with greed and power.
This is exactly why those who are starving to be in control, to have what they want, when they want it, to have everyone else underneath them serving to fulfill their every wish and desire, are so attracted to progressivism.
It’s a system of belief that allows them to pursue their egregious desires under the pretense of doing something good and positive, all the while the only person they desire to help is themselves, particularly when it comes to sticking their paws into your pockets for money.
Here you have two hypocrites using the coal industry combined with global warming hysteria in order to line their pockets and gain more power and control over others.
Just think about this for a minute.
Obama and his ilk in the EPA continue to regulate the coal industry and put pressure on companies in order to drive the stock down, then in comes his pal Soros to buy up the stock. Then suddenly, one day the restrictions ease up, and Soros is even more filthy rich due to the large stores of coal these companies possess, all of which he has stock in.
Now, I don’t know if that will happen, but it would certainly be convenient, wouldn’t it?
http://www.youngcons.com/obama-drives-coal-company-stock-down-in-price-soros-buys-them-up/