David Koch

Study: Koch Brothers Could Make $100 Billion if Keystone XL Pipeline Approved

A new study released today concludes that Koch Industries and its subsidiaries stand to make as much as $100 billion in profits if the controversial Keystone XL pipeline is granted a presidential permit from U.S. President Barack Obama. 
 
The report, titled Billionaires' Carbon Bomb, produced by the think tank International Forum on Globalization (IFG), finds that David and Charles Koch and their privately owned company, Koch Industries, own more than 2 million acres of land in Northern Alberta, the source of the tar sands bitumen that would be pumped to the United States via the Keystone XL pipeline. 
 
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IFG also finds that more than 1,000 reports and statements in support of the Keystone XL pipeline project have been made by policy groups and think tanks that receive funding from the Koch brothers and their philanthropic foundations. 

Warren Buffett Buys Over $500 Million of Suncor Tar Sands Stock, Latest in "Dirty Deeds Done Dirt Cheap"

Warren Buffett - the fourth richest man on the planet and major campaign contributor to President Barack Obama in 2008 and 2012 - may soon get a whole lot richer.

That's because he just bought over half a billion bucks worth of Suncor Energy stock: $524 million in the second quarter of 2013, to be precise, according to Securities and Exchange Commission filings. Suncor is a major producer and marketer of tar sands via its wholly owned subsidiary Petro-Canada (formerly Sunoco) and this latest development follows a trend of Buffett enriching himself through dirty investments and deal-making. 

So far in 2013, Suncor (formerly Sun Oil Company) has produced 328,000 barrels per day of tar sands crude.

Though he receives far less negative press than the Koch Brothers, Buffett's no deep green ecologist. Not in the slightest. 

Referred to as one of 17 “Climate Killers” by Rolling Stone's Tim Dickinson in a January 2010 story, Buffett owns the behemoth holding company, Berkshire Hathway. It's through Berkshire that he's making a killing - while simultaneously killing the ecosystem - through one of its most profitable wholly-owned assets: Burlington Northern Santa Fe (BNSF).

Buffett purchased BNSF for $26 billion and was “the largest acquisition of Buffett's storied career,” Dickinson wrote.

BNSF hauls around frac sand for the controversial horizontal oil and gas drilling process known as “fracking.” The rail company also moves fracked oil from North Dakota's Bakken Shale basin, tar sands logistical equipment and tar sands crude itself and tons of coal. And not only does Buffett's BNSF haul around ungodly amounts of coal, he actually owns coal-burning utility companies, too.

Richard Fink

Richard H. Fink

Credentials

Bachelor's, master's and doctorate degrees in economics from Rutgers, UCLA and New York University, respectively. [1]

How To Spot A Fake Grassroots Movement

PERHAPS somebody should write a pocket guide book with the title: “How to spot you've been suckered by a fake grassroots movement”.

Once it's written, these guide books could be distributed free of charge to crowds at anti-carbon tax rallies, US Tea Party marches and pretty much any gathering of a “movement” telling you that you're freedom is being put at risk by big governments, nanny states, new world orders or communists disguised as climate scientists or public health professionals.

But why the sudden need for the guide?

There's now emerging evidence that if these really are “grassroots” movements, then many of the seeds and the fertilisers are being supplied by major corporations and “libertarian” billionaires. It turns out that the US Tea Party movement and its calls for “freedom” from government intervention wasn't some organic uprising of community concern after all.

A new academic study documents how the Tea Party was envisioned and planned by tobacco company executives in concert with Citizens for a Sound Economy, a group established by oil billionaire brothers David and Charles Koch.

As reported on DeSmogBlog, the study “‘To quarterback behind the scenes, third-party efforts’: the tobacco industry and the Tea Party” shows how the industry wanted to hide their profit motive and fear of the government regulating their deadly products behind a “movement to change the way that people think”, as R.J Reynolds Tobacco's head of national field operations Tim Hyde described it.

Startling Graph Shows Donors Trust the New 'Dark Money' in Climate Denial Funding

Have you heard of Donors Trust?

Most DeSmogBlog readers have heard for years about how the likes of the billionaire Koch Brothers, and major energy companies like ExxonMobil, have pumped tens of millions of dollars into industry front groups that are paid to attack and deny the scientific realities of climate change.

But the landscape has taken an abrupt change today, with the most stunning report so far by the UK's Guardian newspaper, on a little known organization called Donors Trust. 

Here's the Guardian's graph showing that in and around 2006, Donors Trust began to support climate science attack groups, like the Heartland Institute and the American Enterprise Institute, to the tune of more than $20 million a year:

Study Confirms Tea Party Was Created by Big Tobacco and Billionaires

A new academic study confirms that front groups with longstanding ties to the tobacco industry and the billionaire Koch brothers planned the formation of the Tea Party movement more than a decade before it exploded onto the U.S. political scene.

Far from a genuine grassroots uprising, this astroturf effort was curated by wealthy industrialists years in advance. Many of the anti-science operatives who defended cigarettes are currently deploying their tobacco-inspired playbook internationally to evade accountability for the fossil fuel industry's role in driving climate disruption.

The study, funded by the National Cancer Institute of the National Institute of Health, traces the roots of the Tea Party's anti-tax movement back to the early 1980s when tobacco companies began to invest in third party groups to fight excise taxes on cigarettes, as well as health studies finding a link between cancer and secondhand cigarette smoke.

Published in the peer-reviewed academic journal, Tobacco Control, the study titled, 'To quarterback behind the scenes, third party efforts': the tobacco industry and the Tea Party, is not just an historical account of activities in a bygone era. As senior author, Stanton Glantz, a University of California, San Francisco (UCSF) professor of medicine, writes:

“Nonprofit organizations associated with the Tea Party have longstanding ties to tobacco companies, and continue to advocate on behalf of the tobacco industry's anti-tax, anti-regulation agenda.”

The two main organizations identified in the UCSF Quarterback study are Americans for Prosperity and Freedomworks. Both groups are now “supporting the tobacco companies' political agenda by mobilizing local Tea Party opposition to tobacco taxes and smoke-free laws.” Freedomworks and Americans for Prosperity were once a single organization called Citizens for a Sound Economy (CSE). CSE was founded in 1984 by the infamous Koch Brothers, David and Charles Koch, and received over $5.3 million from tobacco companies, mainly Philip Morris, between 1991 and 2004.

Three States Pushing ALEC Bill To Require Teaching Climate Change Denial In Schools

The American Legislative Exchange Council (ALEC) - known by its critics as a “corporate bill mill” - has hit the ground running in 2013, pushing “models bills” mandating the teaching of climate change denial in public school systems. 

January hasn't even ended, yet ALEC has already planted its Environmental Literacy Improvement Act - which mandates a “balanced” teaching of climate science in K-12 classrooms - in the state legislatures of Oklahoma, Colorado, and Arizona so far this year. 

In the past five years since 2008, among the hottest years in U.S. history, ALEC has introduced its “Environmental Literacy Improvement Act in 11 states, or over one-fifth of the statehouses nationwide. The bill has passed in four statesan undeniable form of “big government” this “free market” organization decries in its own literature.

ALEC's “model bills” are written by and for corporate lobbyists alongside conservative legislators at its annual meetings. ALEC raises much of its corporate funding from the fossil fuel industry, which in turn utilizes ALEC as a key - though far from the only - vehicle to ram through its legislative agenda through in the states. 

ALEC to Attack North Carolina Renewable Energy Initiatives

Renewable energy is under attack in the Tar Heel State. That's the word from Greenpeace USA's Connor Gibson today in a report that implicates King Coal powerhouse, Duke Energy and the fossil fuel industry at-large. 

The vehicle Duke Energy is utilizing for this attack is one whose profile has grown in infamy in recent years: the American Legislative Exchange Council (ALEC).

ALEC is described as a “corporate bill mill” by its critics. It's earned such a description because it passes “model bills” written by corporate lobbyists and to boot, the lobbyists typically do so behind closed doors at ALEC's annual meetings. 

International Forum on Globalization: Kochtopus "U.S. Carbon Billionaires" Create "Climate Deadlock"

U.S. Carbon Billionaires

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: U.S. 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. 

Koch Brothers Produce Counterfeit Climate Report to Deceive Congress

This is a guest post by Connor Gibson, originally published at Greenpeace Blogs.

The octopus has a remarkable ability–it can blend seamlessly with its surroundings, changing its appearance to mimic plants, rocks or even other animals.

Similarly deceptive is an upcoming junk study from a Koch-funded think tank that has taken on the format and appearance of a truly scientific report from the US Government, but is loaded with lies and misrepresentation of actual climate change science.

The false report is a tentacle of the Kochtopus–with oil and industrial billionaires Charles and David Koch at the head.

The report's disgraced author, Patrick Michaels, has made his largely undistinguished career shilling for fossil fuel interests, including his stay at the Cato Institute, which published the counterfeit report. After admitting to CNN that 40% of his funding is from the oil industry alone, even Cato was embarrassed enough to clarify that:

“Pat works for Cato on a contract basis, not as a full-time employee. Funding that Pat receives for work done outside the Cato Institute does not come through our organization.”

Koch Industries Chairman and CEO Charles Koch co-founded the Cato Institute in 1977, and David Koch sits on Cato's board of directors. Both brothers are Cato shareholders.

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