Ed Lasky, American Thinker's News Editor, has an op-ed in today's Pittsburgh Tribune-Review on a favor the Obama administration has given to InterOil, a foreign oil company that is a major holding of George Soros's hedge fund.
The column is based on an earlier American Thinker column that outlines how our government is spending our tax dollars to help develop the oil and gas resources of Papua New Guinea, where InterOil has the vast bulk of its assets.
A sample from the PTR column:
Perhaps the better question might be: Who benefits from President Obama's push to help New Guinea become an energy power?
That answer would be George Soros, sugar daddy of the Democratic Party and long an ardent and very generous supporter of Barack Obama's political campaigns.
Soros stands to massively benefit if New Guinea becomes an energy exporter and will profit even more if American taxpayers pick up the tab for the costs of such help.
George Soros has a huge ownership interest in a company called InterOil, whose one major asset is reportedly a huge reservoir of natural gas in New Guinea. He has been increasing his ownership interests in recent months and, as of last November, showed an 11.9 percent ownership stake. His InterOil holding is the third-largest stock holding in his hedge fund.
InterOil has been subject to some controversy -- there are some investors who are shorting the stock, thinking that the reserves might not be as large as claimed and that it will be very difficult to develop them given the problems with developing energy resources in such an undeveloped nation and the heavy expenses overcoming those problems entails.
Meanwhile, the administration blames lack of staff and money for the slowdown in drilling permits given to American oil companies to drill and develop our own domestic energy resources. This is all part of pattern by Barack Obama and various Democrats to reward their donors at our expense.
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