Soros would benefit from Obama natural gas policy
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.
Westport Innovations, a recent purchase by Soros, would benefit from the windfall of policies that pursue the use of natural gas for transportation. The company, whose shares have been projected to explode if Congress were to approve the Natural Gas Act, makes natural gas engines for heavy-duty trucks.
“Soros’s investment funds have pumped about $122 million into WPST, and he’s added to his control as recently as December and March, when he picked up over a million shares, bringing his total to 5.5 million shares,” reported BigGovernment.
“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),” reported the Heritage Foundation.
As of September 30, 2011, the oil and gas sector ranked third in his portfolio after consumer goods and technology, according to investment strategy site, GuruFocus.com.
Obama’s recent rejection of TransCanada Corp’s Keystone Pipeline oil permit also benefited another one of the president’s men, billionaire Warren Buffett. The Burlington Northern Santa Fe Railroad, owned by Buffett’s Berkshire Hathaway, is the nation’s largest rail transporter of coal.