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The week that was: George Soros and Tom Steyer take their lumps


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tom-steyer-george-sorosWatchdog.org:

It’s been a bad week for billionaires and climate change activists Tom Steyer and George Soros.

 

Soros is being labeled a hypocrite for making a $2 million investment in coal while Steyer is catching flak after an investigation by Associated Press revealed that a California proposition Steyer backed in 2012 has not translated into the green energy generation and jobs that were promised.

 

“It’s one thing to invest your own money and, the lord bless ’em, they’ve got the money to do it,” said Charles Drevna, distinguished senior fellow at the Institute for Energy Research, a nonprofit that calls for free-market solutions to environmental issues.

 

“If they want to invest in alternative energy and invest in campaigns that have a different viewpoint than what I think the reality would dictate, that’s their ideology. But when you do these things and you have such a negative impact on the economy and on people’s lives, someone’s owed an apology.”

 

Soros has been an outspoken critic of coal’s impact on the environment, once calling it “a lethal bullet.”

 

In 2009, Soros announced making an initial investment totaling $100 million to establish the Climate Policy Initiative, based in San Francisco, and joined with other wealthy liberals to form an advocacy group backing legislation supported by the Obama administration that includes cracking down on fossil fuel emissions, particularly from coal.

 

But on Wednesday, Security and Exchange Commission filings revealed that the 85-year-old business magnate — through his Soros Fund Management company — invested more than $2 million between April and June in Peabody Energy and Arch Coal.

 

Peabody is the largest private coal company in the world.Scissors-32x32.png


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This is a good working definition of the word BAD.

 

AP EXCLUSIVE: Lawmakers seek oversight of California measure's green jobs, energy savings

JULIA HOROWITZ, Associated Press

Aug. 17 2015

 

SACRAMENTO, Calif. (AP) — Three years after California voters passed a ballot measure to raise taxes on corporations and generate clean-energy jobs by funding energy-efficiency projects in schools, barely one-tenth of the promised jobs have been created, and the state has no comprehensive list to show how much work has been done or how much energy has been saved.

 

Money is trickling in at a slower-than-anticipated rate, and more than half of the $297 million given to schools so far has gone to consultants and energy auditors. The board created to oversee the project and submit annual progress reports to the Legislature has never met, according to a review by The Associated Press.

 

Voters in 2012 approved the Clean Energy Jobs Act by a large margin, closing a tax loophole for multistate corporations. The Legislature decided to send half the money to fund clean energy projects in schools, promising to generate more than 11,000 jobs each year.

 

Instead, only 1,700 jobs have been created in three years, raising concerns about whether the money is accomplishing what voters were promised.

 

(Snip)

 

 

____________________________________________________________________________________________

 

 

Excuse me! Never Met? Why has it taken this long for the legislature to say something?

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But on Wednesday, Security and Exchange Commission filings revealed that the 85-year-old business magnate — through his Soros Fund Management company — invested more than $2 million between April and June in Peabody Energy and Arch Coal.

 

Peabody is the largest private coal company in the world.

 

Disappointment rang out in environmental quarters.

 

“George, if you’re reading this, please tell us what motivates you because it’s baffling for the rest of us,” wrote one commenter at the website of The Guardian, the London-based newspaper that has been a staunch supporter of climate change regulations.

 

Only a Leftist/Socialist could ask a stupid question like that. Ever considered Money & Power?

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