RightChange: George Soros May Benefit From Obama’s Energy Policies

Fri, January 27, 2012

Billionaire Obama backer and Progressive Philanthropist, George Soros, could make a hefty profit off of President Obama’s green energy policy. Obama presented a plan at a Las Vegas UPS facility Thursday that would jumpstart the use of natural gas for transportation. This proposal would give companies incentives to buy and use trucks that are powered by natural gas.

From the Heritage Foundation:

“One company that stands to benefit handsomely from the president’s proposal is Westport Innovations. The company converts diesel engines to be fueled by natural gas. Wall Street analysts predicted a boom for the company if the NAT GAS Act were passed. CNBC analyst Jim Cramer said he “expects shares to absolutely explode” in the event the legislation were to pass.

Jim Cramer made positive mention of Westport, calling it a solid play on natural gas should Congress pass its pending Natural Gas Act. Westport converts diesel engines (i.e. – those found in semi trailers) into ones that run on natural gas.

Benefiting Westport is that it’s: A) basically first to the market, at least in terms of mass production, and B) high barriers of entry for competition because of the complex technology involved in the transformations.

If Westport reaps the predicted windfall, one of the chief beneficiaries will be George Soros, a major Obama donor and supporter. Soros’s hedge fund holds 3,160,063 company shares (as of its last SEC filing).

Soros has given $384,090 to the Democratic Party, Democratic PACs, and Democratic Candidates in the three election cycles beginning in 2008, including $4,400 to Obama himself, according to the Center for Responsive Politics. He describes himself as “an early supporter of Barack Obama, first in his Senate campaign in Illinois and later when he ran for President. Soros supported Obama in his presidential bid because he believed he could provide the transformational leadership the country needed.”

The Daily Caller points out that Soros isn’t the only one doing well off the Obama administration. Warren Buffett, the figure Obama is modeling his tax policy after, benefited off of Obama’s recent rejection of the Keystone Pipeline. The Burlington Northern Santa Fe Railroad (BNSF) is the nation’s largest transporter of coal and is owned by Buffett’s Berkshire Hathaway.

Obama’s special interests have also benefited GM, Chrysler, Fannie Mae and Freddie Mac. Watch this RightChange throwback, “Obama Inc.,” to see how Obama’s special interests are profitable and protected. If we elect Obama in 2012, these special interests will continue to be put ahead of what America truly needs.