« Obama to Immigrant South Asians in San Francisco: "I'm a homeboy" | US-Iraq in Draft Accord on Withdrawal Timetable »
August 21, 2008
Rank hypocrisy from George Soros
Liberal financier and backer of far left groups like Moveon.org George Soros has been caught in one of those "Do as I say not as I do" moments.
It seems that Soros, who is a huge proponent of global warming theory, purchased an $800 million stake in a Brazilian oil company. From the Wall Street Journal:
But as one of the world's most successful investors and speculators, Mr. Soros seems to have a different set of standards when it comes to his own wallet. His moral indignation takes a back seat to the profit motive. To wit, the billionaire do-gooder has purchased an $811 million stake in Petrobras, "making the Brazilian state-controlled oil company," according to Bloomberg News on Friday, "his investment fund's largest holding."It's not only that Petrobras is a fossil fuel company. The more interesting aspect of the Soros investment is that Mr. Soros's Petrobras investment cannot be profitable if the company does not exploit its Tupi oil field, the largest offshore find in the hemisphere. Indeed, Petrobras is rapidly emerging as a world leader in technology to exploit such no-no reserves, while Brazil has thousands of miles of pristine coastline and a large indigenous population. Is Mr. Soros not outraged that he will be funding corporate interests that threaten these? Apparently not as long as there is money to be made that will go into his own pocket.
Ed Lasky adds:
Of course, in supporting Democrats who oppose offshore drilling, he is also investing in a way that will profit when the oil prices rise -- which they will have to do if our domestic offshore oil resources are not tapped. Petrobas -- his largest single investment -- is one of the world's leading oil companies whose future is heavily leveraged to its offshore drilling deposits in Brazil-that are apparently vast. Petrobas is now developing very advanced technology involving offshore drilling-technology American risks losing if our own companies are not allowed to develop our deposits that lie offshore. Maybe he just does not care about developing nations spoiling their own evironments.
Soros certainly knows about offshore investing-his hedge fund is registered and domiciled in an offshore tax haven -- obscuring both its investors and its investments.
To comment on this or any other American Thinker article or blog, you must be a subscriber to our ad-free service. Login to your subscription to access the comments section. You can subscribe on a monthly basis for $6.79 a month or for a year at $69.99
Login
Subscribe / Change PwdAd Free / Commenting Login
FOLLOW US ON
Recent Articles
- Along with Illegal Immigrants, Infectious Diseases are Crossing America’s Border
- Shepherds of the Church: Why the Double Standard?
- Under Elon's Lash
- The Case Against a European Health Model for America
- As a Matter of Fact, I DO Care What People Do in Their Bedroom
- Far-Right Menace: The End of the World as They Know It
- Can Greg Gutfeld Save New York City?
- President Trump at CPAC
- Unmasking Comedian Zelensky's Deception and His True Role in the War on the Global Stage
- Montana Cowboys, Adam Smith, and Trump
Blog Posts
- Panic in Panem
- A lesson in great power politics
- Is your car a 'public space,' free to be searched without a warrant?
- Trump is sick of government patronage
- Is the Ukraine war everyone's war?
- Easy to be stupid
- Is Musk being aggressive enough?
- Hollywood, Donald Trump doesn't make you stink
- Higher education behind enemy lines
- Yosemite: the public isn't going to like that Mr. Ranger
- The viral lie of how censorship is a ‘vaccine’ to freedom of speech
- DC swamp dwellers panic and flee the swamp
- Susan Rice misleads Americans again
- The day the bakery stopped baking
- The Zeitgeist passes Germany by with these election results