President Obama Wants to Help the Little Guys—Especially If They’re Named Boone Pickens and George Soros

by Myron Ebell on January 28, 2012

in Blog, Features

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President Barack Obama spoke up for the economic interests of the little guy in his State of the Union speech to Congress on January 24th.  On January 26th, the President spoke in Las Vegas about using taxpayer dollars to improve the economic well-being on one of those little guys in particular—Texas billionaire T. Boone Pickens.  He urged voters to support the Pickens Payoff Plan (officially titled the NAT GAS Act), a bipartisan bill sponsored in the Senate by Majority Leader Harry Reid of Nevada and in the House by Representative John Sullivan (R-Okla.).

The bill, H. R. 1380 in the House and S. 1863 in the Senate, would provide huge new subsidies to buyers and users of heavy duty trucks that use natural gas.  Pickens owns Clean Energy Fuels, which builds and runs natural gas service stations.  He also has major investments in a number of companies in the natural gas industry.  The value of these investments would probably increase by several billion dollars if the bill were enacted.

However, Pickens has been clear that he has spent $100 million “of his own money” to promote the Pickens Your Pocket legislation only out of love for his country.  “I’m sure not doing this for the money,” he told the New York Times last May.

Another little guy who would do well if this Boonedoggle becomes law is billionaire George Soros, who has recently invested heavily in a company that builds natural gas-powered trucks, according to a story in Big Government. This makes President Obama’s concern for the little guy truly bipartisan.  Pickens is one of the biggest donors to Republican candidates, while Soros is the biggest donor to left-wing groups.

One heartwarming aspect of this story has just come to light.  It seems that the White House doors are always wide open for visits by the little guys.  Politico reports that Pickens has visited the White House seven times since Obama became president. He was also a frequent visitor during the Bush years.

The Boonedoggle bill was introduced in the House last April and quickly gained 186 co-sponsors, including around 80 Republicans.   A number of free market and conservative groups sent a joint letter to Congress opposing the bill, which has convinced 19 Republicans to withdraw as co-sponsors.  This means that the Pickens Payoff Plan has very little chance of passing the House as a separate bill.  However, President Obama’s support could improve the chances that Senator Reid will be able to include it as a provision in a larger bill.  The most likely candidate is the bill extending a wide variety of other business tax breaks that will probably be taken up in the next month or two.

The Pickens Payoff Plan is just one of many brazen attempts to pick the pockets of American taxpayers.  Many similar schemes have been enacted that benefit corn ethanol, cellulosic ethanol, wind power, solar power, electric and hybrid vehicles, and a number of agricultural commodities.  What’s odd about President Obama signing on to this particular Boonedoggle now is that natural gas prices are now so low that no taxpayer subsidies are needed to encourage the switch from diesel to natural gas trucks.  Big companies are investing billions of dollars of their own money to build natural gas trucks and the infrastructure needed to fuel them.  Natural gas cars are probably only a few years away, as well.  It already makes economic sense, and therefore it is already starting to happen.

Charleston Voice January 28, 2012 at 11:56 am

Soros and Murdoch are rotten to the core!

Glenn Beck Staff Threatened by Soros Operatives

Les Johnson January 28, 2012 at 12:37 pm

Don’t forget Warren Buffet as one of the “little guys” that Obama is helping. Buffet owns the Northern Burlington Railroad, and rail is how the oil will come down from Canada if the pipeline is not built.

Jeff Beale January 28, 2012 at 7:41 pm

Fear not, this will probably be the last comment from the President on the subject or if there are more words, they will be just that. He doesn’t follow through.

BobRGeologist January 28, 2012 at 9:32 pm

What a den of thieves we have taking advantage of the totally false idea that CO2 is bad for us. Keep at it boys and winter sports will become a worldwide attraction until most of us on the planet starve to death. The few of us left will be back where to where we started a million years ago.

jes January 29, 2012 at 3:01 pm

This sarcastic drivel is short on facts and long on lies. Boone Pickens is a man of character and integrity who has known all along that Nat Gas will save our economy. Including his motives with “scum elites” like Soros & Obama makes the author of this blog a definitive “jack fool” in this world.

WI LDA WOODS January 30, 2012 at 10:14 am

Did the stimulus help the little guy, NO < just obama's donators like george soros

And a long the way he managed to pad his own pocket

Wilbur January 30, 2012 at 10:29 am

Take the blinders off “Ya’ll”. All policitians are corrupt, I don’t care which side they’re on. The elite (Everyone in Washington) will continue to get rich off the working man’s sweat and there’s not a damn thing that will change this.

Invisible January 30, 2012 at 12:41 pm

Natural gas is truly America’s ticket to energy independence. It is not a game or something that has proven unsuccessful – like very other investment the government has made in energy products. If our trucks change to natural gas – which by the way is cleaner – all American’s will be better off. If we finally begin building automobiles that are natural gas powered we can forget about high priced batteries that have to be charged by the use of more electricity. We could be rid of our dependence on oil from foreign countries.

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