It's Always A Conspiracy, Natural Gas Edition

Blog ››› ››› SIMON MALOY

In his State of the Union address on Tuesday, President Obama said that his administration "will take every possible action to safely develop" America's reserves of natural gas, and that the "development of natural gas will create jobs and power trucks and factories that are cleaner and cheaper, proving that we don't have to choose between our environment and our economy." The next day, in Las Vegas, the president talked about "an America where more cars and trucks are running on domestic natural gas than on foreign oil. Think about an America where our companies are leading the world in developing natural gas technology and creating a generation of new energy jobs; where our natural gas resources are helping make our manufacturers more competitive for decades."

So Obama supports the development of natural gas. And conservatives think they have figured out the reason why: George Soros.

Lachlan Markay, of the Heritage Foundation, wrote yesterday:

George Soros, a billionaire investor and major backer of President Obama, stands to reap a windfall from legislation promoting natural gas-powered vehicles. The White House unveiled a proposal on Thursday that would do just that.


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.


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).

Hot Air's Tina Korbe credited Markay for uncovering "a potentially key motivation for the president's recent proposal to offer incentives to companies to buy and use trucks powered by natural gas." Korbe added with an air of wildly unsupported certainty that this is an example of "the president's perpetual crony capitalism."

The Daily Caller also got in on the fun:

President Barack Obama, at a Las Vegas UPS facility Thursday, pitched a plan to boost the American use of natural gas, a plan that would not only benefit long-time natural gas proponent billionaire T. Boone Pickens, but also long-time Obama supporter, billionaire investor and progressive philanthropist George Soros.

So did the president craft a national energy policy based largely on how it would benefit George Soros' investment portfolio? It certainly seems likely, assuming you've been conditioned to believe that Soros is secretly pulling the strings at the White House, in which case the mere fact of Soros' connection to the natural gas industry is evidence enough to convict.

You just have to disregard the fact that the many millions of dollars in political donations made by the oil and gas industry and the natural gas pipeline industry -- which would also stand to benefit handsomely from expanded use of natural gas vehicles -- have overwhelmingly gone to Republicans. There's also the inconvenient presence of billionaire T. Boone Pickens. who cut checks to George W. Bush, funded the Swift Boat Veterans For Truth, and, as noted by the Daily Caller, would make some serious bank with accelerated development of natural gas.

So if Obama's goal was to line the already well-lined pockets of one of his prominent supporters, he's also throwing vast sums at the people and industries who have bitterly opposed him and are likely to continue doing so in the future.

But hey, it's a conspiracy! It doesn't need logic, it just needs selectively reported facts and the thinnest patina of plausibility.

(Full disclosure: Soros has donated to Media Matters)

Posted In
Environment & Science, Energy
The Heritage Foundation, Hot Air, The Daily Caller
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