International Forum on Globalization

Wed, 2013-10-23 10:52Guest
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Carbon Billionaire Kochs Will Profit Plenty on Keystone XL, Counters IFG

This is a guest post by Victor Menotti, Executive Director of the International Forum on Globalization.

Charles and David Kochs’ communications crisis team from the Center for American Freedom (CAF), along with Tim Worstall writing in Forbes, are countering International Forum on Globalization’s (IFG) recent report, “Billionaires’ Carbon Bomb: The Koch Brothers and the Keystone XL Pipeline,” only one day after its release and before IFG had a chance to respond to CAF's queries.

IFG stands firmly by its findings that the Kochs could profit plentifully from the proposed Keystone XL pipeline (KXL), and that KXL is not in America’s national interest.  With a decision due any day, we also wonder why a U.S. president would approve a pipeline whose biggest beneficiaries could be the very billionaires who have spent millions of dollars to undermine his efforts. The Kochs’ current net worth ($92B) exceeds that of the world’s wealthiest man, Bill Gates ($72B), according to the October 1, 2013 Bloomberg Billionaires’ Index.

Forbes’ reporter, Tim Worstall, also attacked IFG’s 2011 report by arguing that people who profit from the production of fossil fuels play no role in promoting their use, nor in financing efforts to prevent their phase out.  Worstall wrote, “Oh, sure, the rich guys turn a penny or two on supplying us with these things that we desire and use but it is our desire and use which is causing the problem, not the people doing the supplying.”  IFG’s 2012 report showed the Kochs outspent all other oil companies—even Exxon— to block U.S. efforts to reduce carbon emissions and advance clean energy.

CAF was created by the Kochs in 2012 to counter increasing public scrutiny of the billionaire brothers’ record spending on a sprawling political influence network whose money, organizational structure, and unprecedented scale have been mapped extensively in IFG’s online, interactive Kochtopus. CAF’s Washington Free Beacon staff writer, Lachlan Markay, came from the Heritage Foundation, where he was the conservative think tank's first investigative reporter.

Below is IFG’s official response to their claims:

Thu, 2012-12-06 10:25Carol Linnitt
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International Forum on Globalization: Kochtopus "Carbon Billionaires" Create "Climate Deadlock"

While international cooperation to reduce global greenhouse gas emissions has never been a greater imperative, climate progress has never been more stymied, more corrupted by those who stand to gain from maintaining a beleaguered carbon-based energy system that threatens the health and well-being of the global community. 

According to a new report released this week by the International Forum on Globalization (IFG), no climate culprit deserves greater blame than the carbon billion duo, brothers Charles and David Koch. The IFG's “Faces Behind a Global Crisis: US Carbon Billionaires and the UN Climate Deadlock” explains the role these oil barons play in paralyzing global efforts to combat climate change on the international level. 
 
“The Kochs cashed in by polluting our planet - economists would call them free-riders - and now they wield their wealth to rig the rules in their own favor…Leading an epic propaganda effort by the broader fossil fuel industry, global climate cooperation may face no bigger barrier blocking progress today than these two individuals of undue influence.”
 
The extent and influence of the Kochs' wealth cannot be underestimated. According to the Bloomberg Billionaires Index, the Koch brothers combined constitute the world's wealthiest 'individual' with a value of $80.2 billion, beating out Mexico's Carlos Slim at $71.8 billion. 
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