GE’s Payback
Sen. Barbara Boxer’s climate bill set to be released today contains a provision that will compensate General Electric quite nicely for its lobbying and media efforts promoting climate legislation.
Section 821(c) requires that, by December 12, 2012, the EPA set standards for greenhouse gas emissions from “new aircraft and new engines used in new aircraft.”
General Electric is the world’s largest manufacturer of commercial and military jet engines, a business worth about $12 billion in annual revenues.
So the Boxer bill would compel airlines and the military, when purchasing new aircraft and new aircraft engines, to purchase more expensive “green” engines made by GE, according to standards set by the current and GE-lobbied Obama administration.
I’m sure Keith Olbermann, scourge of corporate corruption everywhere, will blow the lid off this story in his next show on…
Oh well, scratch that idea!
I knew I was doing something right when I bought 10,000 share block between 6-7 dollars a share in March. I figure GE will be the Liberals Haliburton.
Before the new left took over the term “liberal”, it meant someone who was concerned about liberty. The old “anti-big business” liberals were active in trying to keep too much power out of the hands of the large corporations. Something which it is becoming more and more apparent will need to be done now if we still value our freedom.
Giant business concerns allied with government is a form of fascism or corporatism which is inimical to individual rights. If we’re going to get those rights back, those lines of power must be cut. “Too big to fail” should be “Too big to exist”.