Billionaire George Soros warms up to coal as stock prices hit bottom | Fox News
As I noted a couple of days ago, George Soros seems to have forgotten about the evils of coal and is busy buying up large chunks of the US coal industry, currently at nead bankrupt prices thanks to Obama’s policies.
Fox News reports:
Billionaire investor George Soros, who has demonized fossil fuels for years through his think tanks and political contributions, seems to have warmed up to Big Coal now that stocks are dirt cheap.
The left-wing hedge fund legend has raised eyebrows with major purchases of stock in two large coal companies, firms his critics say he helped bring to their knees. While buying low is the hallmark of any shrewd investor, buying coal goes against the political and environmental ideology Soros has long espoused.
“I find it very interesting that George Soros would buy shares in those coal companies,” said Daniel Simmons, vice president for Policy at the Washington DC-based free market energy group, Institute for Energy Research. “I am confused given the non profits he funds and how hard they have worked to demonize coal.”
Soros, whose Climate Policy Initiative think tank recently urged the world to stop using fossil fuels in general and coal in particular, snapped up 1 million shares of Peabody Energy and half a million shares of Arch Coal, giving him significant stakes in what’s left of the U.S. coal industry.
The trades would have cost Soros a lot more six years ago, when Peabody, which trades under the symbol BTU, was at about $90 a share. Under the Obama administration, which has punished the coal industry with costly mandates and regulation, Peabody shares have fallen to around $1.
Related Image
nebraskacoal.jpgExpand / Contract
June 2, 2014: This photo shows a hill of coal at the North Omaha Station, a coal-burning power station, in Omaha, Neb. (AP Photo/Nati Harnik)
Neither Soros nor his New York-based investment firm, Soros Fund Management, would comment on the coal play, citing a longstanding policy of not discussing investments.
The 85-year-old hedge fund manager has a net worth of $24.2 billion, according to Forbes.com, which makes him the 19th wealthiest person in U.S. and second among hedge fund managers.
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NOT A LOT OF PEOPLE KNOW THAT 
A shrewd cookie.
He’s only making up for Chinas’ lost emissions:
The share prices have plummeted under Obama’s plans. The moment that Obama becomes ineffective and unable to enforce his policies the shares will double.
If the Paris Conference is a flop and the anti-CO2 campaign runs out of gas (sorry!) then they could easily double again.
Now if only I had a billion or two I could make some big money.
In the 70s and 80s there was Japan. Then there was the emerging markets, the euro convergence play, plus the occasional fixed exchange rate to beat up on. Now there’s no low-hanging fruit left, at least not for those with many billions to invest. Hold on a minute – the whole world needs energy doesn’t it? Then why don’t we lobby governments, and fund NFPs, think tanks and universities with the ultimate objective of redirecting the present flow of energy revenue and profits into an alternative? Position our own investments accordingly and we should do very nicely in the rent-seeking game, thank you very much. There’s always the bonus that the policies we have engendered will effectively bankrupt existing energy producers so we can step in and pick up valuable assets at basement prices.
It is just another way for Soros to call the shots on energy – the price paid is pocket change to him
1. Focus on Soros and the Democrats
Well George Soros is not the only player on earth. There are plenty of non-Democrat players who could snap up a bargain with backing from Private Equity say. They’re all just biding their time until coal is cool again.
If this article put its money where it’s mouth was, they could easily buy shares in those companies themselves. No-one is excluded from buying in.
2. Commodities are in a downward trend anyways
Oil down, metals down, coal down…. This is because of the China slowdown which is in itself because of global demand slowdown + some small amount of Chinese internal trouble.
None of that is controlled by invisible strings from the Whitehouse. They try, but are very ineffective
just like the whole bunch of greenies, he is a hypocrite of the first order. I do wonder if he could not be sued by the coal companies whose demise he plotted.
Reblogged this on WeatherAction News and commented:
This man clearly represents a threat to the poor…but nice work if you can get it
Another one has joined in
http://www.thegwpf.com/the-new-coal-barons-green-activists-buy-up-bankrupt-coal-mines-to-mine-coal/
But he is going to plant trees to offset the CO2, so that is all right then
And the trees will get cut down for Drax! This is all so clever or stupid it is making my head spin.