The Real Winner Of Obama’s ‘War On Coal’: George Soros

0

The real winner of President Barack Obama’s so-called “war on coal” isn’t the Environmental Protection Agency, nor is it the natural gas industry. It’s liberal billionaire George Soros.

Last week, Obama’s EPA announced sweeping regulations for U.S. power plants, forcing them to drastically reduce carbon dioxide emissions 32 percent by 2030. The news sent shockwaves through the coal industry, sending stocks tumbling and forcing the industry’s two biggest players to consider bankruptcy filings.

That’s where liberal billionaire Soros steps in. In the days after the Clean Power Plan was announced, Soros bought more than 1 million shares of Peabody Energy and 553,200 shares of Arch Coal — the country’s two biggest publicly-traded coal companies.

Both Peabody and Arch Coal “have seen their market values plummet” due to “competition from cheap natural gas, new environmental regulations and a slowing export market,” according to SNL Financial. Soros was able to pick up these coal stocks on the cheap, in part, due to Obama administration regulations targeting coal-fired power plants and coal mines.

Read more at FreedomOutpost

Posting Policy
We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse. Read more.

Trending on Liberty Alliance

STAY IN THE LOOP
Don't miss a thing. Sign up for our email newsletter to become a Liberty Alliance insider.