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GE To Make BILLIONS From Obama Cap and Trade Scheme

Discussion in 'Political Zone' started by Jordan55, May 15, 2009.

  1. Jordan55

    Jordan55 Active Member

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    Jeffrey Immelt and Barrack Obama, does this surprise anyone?





    General Electric in the position to make billions from Obama’s Cap and Trade scheme and is lobbying heavily for it’s passage. Not only are they the largest wind turbine generator maker, they are going to profit heavily from the “cap and trade” credits as possibly the sole “secondary market’ trader of these credits. Now do you understand the main stream NBC, MSNBC, CNBC fully supporting the Obama agenda, and the hate-filled, anti-conservative spew from their networks

    GE is embroiled in what perhaps could be the largest scandal in the history of this nation. Currently, GE and CEO Jeffery Immelt have spent millions in lobbying efforts to assure the passage of this dasturdly “cap and trade” proposal. And, as evidenced from the Shareholders meeting in Orlando, Immelt wasn’t in the mood for the boo’s and the questions that exposed the media bias from NBC and MSNBC (and CNBC) and their total shift from objective reporting to nothing but pure bias toward the Obama administration and their “cap and trade” scheme

    Under the Obama plan, the “cap and trade” credits will be issued to all producers of energy. GE is the largest manufacturer of wind turbines as well as other electical generation turbines used in coal, gas, atomic, and hydroelectic electricity generation facilities. With the Obama plan, those cap and trade credits would be issued by the Federal Government, and ultimately, traded just like any stock or bond. GE has apparently, created and entire unit with the Corporation that would deal in the Secondary Market trading these credits.

    First, they are going to take in billions of dollars from government contracts in wind energy. Second, they perhaps are going to have exclusive control over the secondary market for these cap and trade credits. That, in effect, puts GE in the catbirds seat for all energy produced in this nation as ALL “carbon emission” energy sourced are going to be subject to these carbon schemes. This includes ANY oil related, natural gas related, gasoline, diesel, and any other manufacturer that uses any petro-based component. That means every single plastic container, every car, every chemical fertilizer, every pesticide, every single thing you use will be subject to this scheme as it too, is made from a carbon based material.
  2. theogt

    theogt Surrealist Zone Supporter

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    Did you type this up yourself or copy and paste it? The editing is terrible, so I don't think it's from a mainstream source.

    I do love the use of terms like "perhaps," "apparently" and "in effect," which of course give them the wiggle room of absolutely none of it being true or correct. I give them credit in at least explicitly asserting that Jeff Immelt is in fact the CEO of GE.
  3. Rogah

    Rogah Well-Known Member

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    So what you're saying is that GE is aggressively lobbying in favor of legislation which would benefit them financially.

    And that's a scandal how..?
  4. Temo

    Temo Active Member

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    I couldn't read past the first paragraph.
  5. Jordan55

    Jordan55 Active Member

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    Here let me simplify it for you, what network has been the biggest proponent of our current president, another words which network has been in the tank and has been very unbalanced in there coverage. Now follow me who owns this network? That's right GE, a company under the leadership of Jeffery Immelt, that has seen it's stock shares plummet and been rewarded close to 150 billion in bailout money to support their financial division unbeknownst to alot us.
    Now let's talk cap and trade, the drift of the article is if this should pass, now follow me, Why have NBC and MSNBC been very supportive of it and been pushing it on there broadcasts because they admire Obama, NO!!!!
    It's because there parent company GE and CEO Immelt stand to make billions of dollars, Under the Obama plan, the “cap and trade” credits will be issued to all producers of energy. GE is the largest manufacturer of wind turbines as well as other electical generation turbines used in coal, gas, atomic, and hydroelectic electricity generation facilities. With the Obama plan, those cap and trade credits would be issued by the Federal Government, and ultimately, traded just like any stock or bond. GE has apparently, created and entire unit with the Corporation that would deal in the Secondary Market trading these credits.
    And that's a scandal how..? Well could it be our President is rewarding GE for it's main stream media support and you don't see a conflict here amazing.
    You guys were all over Dick Chenney and his association to Haliburton and how he could be prospering from the war.
    Yet you find nothing wrong with a company and their tainted news coverage in their attempt gain favor on a bill that would reward them billions because of there unbias support of the President . Amazing!!!!
  6. Jordan55

    Jordan55 Active Member

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    General Electric might reap billions of dollars if the Feds OK the carbon deal," "By the way, GE is already getting taxpayer bailout money for its financial unit. So it's not a stretch to assume Immelt would want to help President Obama as much as possible."

    The level of corruption is so big, it stands to make Watergate look small.

    "This is obviously a major story - when a powerful corporation, which controls a major part of the American media, may be using its power and the airwaves to influence politics, in order to make money from government contracts,"
  7. sbark

    sbark Well-Known Member Zone Supporter

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    It is just more political payback for biased media blind support.....

    ....add in the billions, and pure power that GE stands to gain as the supposed only govt supplier of medical records if/when Obama-care gets implemented.

    WILKOW/ RIZZUTO: GE a corporate sponsor‎ - 4 days ago

    Under the cloak of corporate responsibility, General Electric seeks to benefit to the tune of billions from the passage of Mr. Obama's health care reform. ...
    Washington Times - 5785 related articles »

    ........Immelt has pushed GE to the brink of bankruptcy and desperatly needs the money from both healthcare and Cap/Trade to start coming into its coffers.....

    ........Are the taxpayers basically not paying the 400 million per year to Overbite Olberman..........Why no outrage????

    <LI class=g>Yahoo! Message Boards - General Electric Company (GE) - Lets ...

    Nov 12, 2008 ... GE just received a $140 BILLION Dollar US Gov BAIL OUT Loan today, what does all this really mean, lets compair with AIG: ...
    messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_G/threadview?m=tm&bn=7631&tid=897559&mid... - 51k - Cached - Similar pages
    <LI class=g>MSNBC Rewarded For Obama Support With GE Bailout Money « Waste Of ...

    Actually it is part of the bailout package and was not part of what was agreed upon. GE Capital is not a bank, just like Amex was not. ...
    wasteofmyoxygen.wordpress.com/2008/11/16/msnbc-rewarded-for-obama-support-with-ge-bailout-money/ - 67k - Cached - Similar pages
    <LI class=g>Maggie's Notebook: Keith Olbermann Raise: Funded by GE Bailout Money

    May 12, 2009 ... Keith Olbermann Raise: Funded by GE Bailout Money. Who knew that MSNBC paid Keith Olbermann $4 million annually before his salary increase ...
    maggiesnotebook.blogspot.com/2009/05/keith-olberman-raise-funded-by-ge.html - 256k -
  8. theogt

    theogt Surrealist Zone Supporter

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    :laugh2:

    It's not $150 billion.

    Thanks for just copying and pasting an entire section from your original post. That certainly helps clarify and bolster the argument in your original post.

    If you thought it was silly to criticize Cheney (notice only one "n") at the time, then surely you see how it's silly for you to criticize Obama now. Hypocrite?
  9. MetalHead

    MetalHead Benched

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    Typical...information is the enemy of the left.
  10. jwhardin

    jwhardin Member

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    How many wind turbines or wind mills would it take to produce enough electricity to power, let's say New York City, Houston or any of our large cities. And where are they going to put them all.
  11. PosterChild

    PosterChild New Member

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    It's my opinion that links should be required here as they are on most forums when posting articles. It's common courtesy and demonstrates some diligence. If someone is going to take the time to write something, and/or to publish it, they both ought to be recognized. Not being rude or anything just stating something that's been on my mind for a spell.
  12. Jordan55

    Jordan55 Active Member

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    First, oh I stand corrected Quote "General Electric said Wednesday that the federal government had agreed to insure as much as $139 billion in debt for its lending subsidiary, GE Capital. This is the second time in a month that G.E. has turned to a federal program aimed at helping companies during the global credit crisis." I'm pretty sure they have come back to piggy bank for even more financial help, but do your own leg work, thanks for making your valid point.
    Second Thanks for just copying and pasting an entire section from your original post. Unfortunately it's still pretty clear you still dont' get it, I hate to post it a third time try reading it. I'm not going to waste my time trying to help you comprehend it, since it apparent you either can't grasp it or won't
    Finally thanks for the spelling correction on Cheney:rolleyes:
  13. Jordan55

    Jordan55 Active Member

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    GE's Jeff Immelt: Global Warming 'Compelling'; Cap-and-Trade Most 'Effective' Way to Go
    CEO of parent company of NBC Universal argues for carbon price to create 'certainty.'

    Here's a shocker!!!! I wonder why, Obama owes his friends at GE a big favor!!!


    By Jeff Poor
    Business & Media Institute
    5/20/2009 3:03:44 PM


    General Electric (NYSE:GE) is the parent company of the major media conglomerate NBC Universal, which owns media outlets NBC, MSNBC and CNBC. At times that has led to the lines between corporate advocacy and journalism being blurred.

    That was certainly the case when GE&#8217;s CEO Jeff Immelt appeared on CNBC&#8217;s &#8220;Squawk Box&#8221; May 20 to discuss the White House meeting of President Barack Obama&#8217;s 16-member Economic Recovery Advisory Board headed by former Federal Reserve chief Paul Volcker.

    Immelt used his platform at CNBC to make the case for a cap-and-trade program to curb emissions &#8211; something Obama has called for and one Congressional committee is debating this week.

    &#8220;There&#8217;s going to have to be a price for carbon,&#8221; Immelt said. &#8220;In some way, shape of form, you&#8217;re going to have to create some certainty. You have to make technology your friend in this debate. But we sit here today Becky, I think about things like global warming. We&#8217;ve been on this for four or five years.&#8221;

    Immelt contended he wasn&#8217;t an environmentalist, despite criticism that his networks&#8217; have patterns of promoting the green agenda. Immelt told &#8220;Squawk Box&#8221; the science surrounding man-caused global warming was &#8220;compelling&#8221; and that it was only a matter of time before something will be done about carbon emissions.

    &#8220;I think the science, as a CEO I&#8217;m not an environmentalist &#8211; just purely as a CEO that has to make a payroll &#8211; things like that,&#8221; Immelt continued. &#8220;The science is compelling, so it&#8217;s a question of when and not if there&#8217;s going to be something done on carbon. Give us some certainty and let&#8217;s go.&#8221;

    The General Electric CEO said he favored a cap-and-trade system to regulate carbon emissions versus a carbon tax.

    &#8220;Look, I&#8217;ve said it &#8211; there&#8217;s got to be a price for carbon,&#8221; Immelt said. &#8220;I&#8217;ve come to the conclusion that cap-and-trade is the most effective way to create a market and go. There&#8217;s going to be people that argue for taxes. But, I &#8211; I just think cap-and-trade is the more practical approach. But let&#8217;s debate all that stuff, but let&#8217;s get it done.&#8221;

    &#8220;Squawk Box&#8221; co-host Becky Quick cited a May 19 op-ed by David Sokol that appeared in The Washington Post. Sokol warned a cap-and-trade system would create a complex system of derivatives susceptible to the same sort of asset bubble blamed for the current economic malaise. Immelt argued cap-and-trade could work effectively based on the system in place regulating sulfur dioxide stemming from the Clean Air Act.

    &#8220;Look, we uh, we had in a smaller scale, we had a market for sulfur dioxide that worked fairly effectively,&#8221; Immelt argued. &#8220;Uh, you know again, I think it is the one thing that can gel NGO&#8217;s business together is a cap-and-trade system to create a market. Is it going to be perfect? No.&#8221;

    Immelt also maintained that with current obstacles to building coal plants in the United States, U.S. energy policy needs revamping anyway.

    &#8220;But let&#8217;s &#8211; let&#8217;s be really honest with each other right now,&#8221; Immelt said. &#8220;We have a policy, we just don&#8217;t know it. The last 40 coal plants haven&#8217;t been permitted in this country. We&#8217;re not leading in the core technologies. You know, we&#8217;re the worst of all worlds. So, let&#8217;s have the debate, create certainty. The one thing business guys hate is uncertainty. And in energy today, that ought to be the market we stake out to lead, create certainty, to create incentives for small business, big business, wherever you want to and let&#8217;s go.&#8221;

    Austan Goolsbee, a former campaign flack now serving on the Council of Economic Advisers and staff director and chief economist of Obama&#8217;s Economic Recovery Advisory Board, joined Immelt in the CNBC segment. Goolsbee called for cooperation between the private sector and the federal government for the sake of the green agenda.

    &#8220;Here&#8217;s a case where government policy with the private sector working together is the only way that it really can get done,&#8221; Goolsbee said. &#8220;And looking at it internationally too, it&#8217;s got to be done in an international context, so the U.S. isn&#8217;t the only one passing these rules. But we&#8217;ve fallen behind in this. This is a place where the government&#8217;s energy policy could be used in a way that would help American business and thus far you know, has been less so we&#8217;re trying to push that today in this meeting.&#8221;
  14. JBond

    JBond Well-Known Member

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    They would have to pave over the entire state of Conneticut and fill every square inch with windmills to power NYC.

    Obama's massive spending on green energy is going double the amount of green power generated from 1% to 2% of the total power created in the US.

    Obama is an ***. Of this there is no doubt.
  15. burmafrd

    burmafrd Well-Known Member

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    In the meantime billions of barrels of oil are just waiting to be pumped off of California, Florida, Gulf Of Mexico and Alaska- but instead Obama does this.
  16. Jordan55

    Jordan55 Active Member

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    GE through their national media outlets have given us a one sided propaganda informercial for the chosen one, I am on record stating that this past election was one big sham orchestrated by the liberal media.
    The biggest scam will be rewarding GE with this Cap and Trade BS bill, where as GE will make billions off tax payer dollars while we as tax payers will be left holding the bag on a controversial energy policy.
    GE because of it's media bias agenda, appears will be rewarded by our faultless President for there unprecedented support.

    We are all being played by this corporate giant.:mad: Why do think Jeffery Immelt, is pushing the Bill?

    I will not buy anything with a GE label on it!
  17. MetalHead

    MetalHead Benched

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    Hope and Change.
  18. Rogah

    Rogah Well-Known Member

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    Arguably a good idea nonetheless. :D
    If our goal is to reduce our dependence on foreign oil, the best way to do that is drill our own. If our goal is to reduce our overall oil consumption and switch to clean and renewable sources of energy, then wind farms are definitely a piece of the puzzle (certainly not the only piece, but also not one to be overlooked).

    I think both sides are right and both sides are wrong. I wish we would do both... drill our own oil and work on moving towards alternative fuels.
  19. MetalHead

    MetalHead Benched

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    I have zero problem with that..we got plenty of oil and technology is moving forward.
    Problem is the environazis...they will not get out of the way of progress.
    Our vehicles burn fuel in cleaner ways than before.
    Now we have the climate change bozos trying to push cap and trade upon us.
    WAKE UP AMERICA...CAP AND TRADE IS A TOOL TO TAX YOU MORE WHILE GENERAL ELECTRIC AND AL GORE MAKE BUKU MONEY!!!!!!!!!!!!
    WHY CAN'T YOU SEE IT...IT'S CRYSTAL CLEAR!
    WANNA KNOW WHY MSNBC IS SO BIASED????THEY ARE OWNED BY GENERAL ELECTRIC WHO IS IN BED WITH THE OBAMA ADMINISTRATION!
  20. silverbear

    silverbear Semi-Official Loose Cannon

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    Sounds to me like GE was just SMART, and ahead of their time... I see no "scandal" in that...

    In fact, I applaud them for being at the forefront of the wind turbine industry... we should be doing more of that, much more... we should also be pursuing solar power alternatives... not only are they better for the environment, they're RENEWABLE energy resources; once all the oil is drilled, it's gone forever... but the sun and the wind are gonna be around for a long, long time...

    Anyway, if GE makes a ton of money off of cap and trade, good for them... it just shows that there is money to be made off of being environmentally friendly...

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