Geee Posted August 21, 2015 Share Posted August 21, 2015 Watchdog.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. Link to comment Share on other sites More sharing options...
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