Tuesday, August 25, 2015

Juxtaposition This: The War on Coal and George Soros' Investments

Watts Up With That reports on collusion exposed between Governors, White House, and Tom Steyer’s climate advocacy groups. The article concludes:
“This is the 5th transparency report in a series that E&E Legal has published on the ‘green movement’ and its network of public, private, and business interests, and what is clear is that 1%-ers are using ‘climate’ policies to destroy politically disfavored industries in order to transfer wealth to the politically preferred,” said Craig Richardson, E&E Legal Executive Director. “The campaign by self-serving individuals must be made known to the public as policymakers consider this plan that will destroy parts of our economy and ruin the most efficient, affordable, and clean energy system ever created.” (emphasis mine).
Meanwhile, we learn of this:
Billionaire investor George Soros has opened new equity stakes in Peabody Energy Corp. and Arch Coal Inc., the country's top two coal producers, according to a Form 13F-HR filed Aug. 14.

Soros acquired more than 1 million shares of Peabody and 553,200 shares of Arch in the second quarter, according to the filing. He reported no other coal holdings in the period.
* * *
Both Peabody and Arch have seen their market values plummet amid extremely difficult operating conditions for domestic producers caused by competition from cheap natural gas, new environmental regulations and a slowing export market. (emphasis mine).
And that, kids, is the way to make money: use the government to drive down the price of stocks in companies you want, and then buy them up when they are cheap.

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