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| http://www.americanthinker.com/2011/03/soros_wins_under_obamas_ener... Obama might as well make Soros his oil and food Czar.
Soros Wins Under Obama's Energy Policies
By Ed Lasky
Are Barack Obama's energy policies influenced by hedge fund billionaire and political patron, George Soros?
Abby Wisse Schacter, in the New York Post, notes that the Obama administration is clamping down on oil and gas development in America (both onshore and offshore) but is hell-bent on helping other nation's tap their resources and points out that such help is being showered specifically in New Guinea, of all places.
It is starting to look obvious that the administration doesn't want oil exploration and extraction at home while it is promoting the same exploration and extraction elsewhere -- specifically Brazil and New Guinea. "The Bureau of Ocean Management, Regulation, and Enforcement (BOEMRE) has assigned only six drilling engineers to process all permit applications pending in the Gulf of Mexico. While Michael Bromwich bemoans a lack of the staff necessary to speed up the process, he's sending his staffers to Papua New Guinea to advise its officials on ways to develop the country's offshore drilling infrastructure. A significant portion of the agency's budget is covered by fees, royalties, taxes, and rents from energy production, so curtailing drilling closes off cash flow too.
As I have written before (see Cheap Natural Gas and Its Enemies; Cheap Natural Gas and its Democratic Enemies) George Soros, through his hedge fund, has a huge ownership interest in a company called InterOil (stock symbol IOC), whose one major asset is reportedly a huge reservoir of natural gas in New Guinea. He has been increasing his ownership stake in recent months and, as of last November, showed an 11.9% ownership stake. His InterOil holding is the third-largest stock holding in his hedge fund.
Edited by Cash 3/31/2011 08:38
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Soros now 3rd largest Grain Co. behind Cargill and ADM
