"Living in the coal age may have romantic overtones but it is a recipe for Australia becoming the next Cuba, Argentina, Greece or North Korea."
Obviously leftist puppet-master, self-confessed nazi-collaborator soros doesnt agree with the many useful idiots he has manipulated into pushing down the price of coal and soros is putting his money where the leftist have put their mouthmouths to cash-in big time from leftist gullibility and coal it would seem...
http://www.breitbart.com/big-government/2015/08/17/the-new-king-coal-george-soros/
THE NEW KING COAL: GEORGE SOROS
I predicted in this column last week that the left wasn’t going to kill off the coal industry so much as it was going to steal it. That prediction is already becoming true courtesy of billionaire George Soros.
U.S. Securities and Exchange Act filings indicate that
Soros has purchased an initial 1 million shares of Peabody Energy and 553,200 shares of Arch Coal, the two largest publicly traded U.S. coal companies. As pointed out last week, both companies have been driven perilously close to bankruptcy by the combination of President Obama’s “war on coal” and inexpensive natural gas brought on by the hydrofracturing revolution.
Under the hypothesis that not even socialists would leave trillions of dollars worth of a perfectly safe and clean energy source in the ground for the sake of the imaginary “climate crisis,” I posited that once the existing coal industry ownership was wiped out by President Obama’s regulatory onslaught, a new politically correct ownership would rehabilitate the fuel by contributing to Democrats.
Enter George Soros, a hardball investor and philanthropist to myriad left-wing causes, including the activist and “clean energy” rent-seeking movements that have helped take down the coal industry. In 2009, for example, Soros announced he would spend $1 billion in “clean energy” technology and create a San Francisco-based advocacy organization called the Climate Policy Initiative.
Less than a year ago the Soros’ Climate Policy Initiative issued a major report concluding that the world could save $1.8 trillion over the next two decades by transitioning
awayfrom coal. The report referred to coal reserves as “stranded assets” that were losing value as they were no longer needed."
