Billionaire John Doerr, a managing partner at the venture capital firm Kleiner Perkins Caufield & Byers, also augments his financial investments with political advocacy.
Having investing early in Amazon and Google, Doerr is one of the top venture capitalists from Silicon Valley. Following this impressive track record in high tech, Doerr has shifted investment focus to clean energy.
Leaving free-market capitalism behind, Doerr used his influence to advance California’s global warming law, which will boost the prospects for his clean energy investments. When Proposition 23, a voter initiative to delay the implementation of the law, was on last fall’s ballot, Doerr donated $2.1 million to fund the campaign that led to its defeat.
Unlike Doerr’s high tech investments, clean energy requires political advocacy for marketplace success. The Achilles’ heel of clean energy is that it can’t compete with fossil fuels – coal, oil and natural gas – on a cost basis.
Accordingly, the boot of government is needed to make fossil fuels more expensive while rewarding the wind and solar industries with lavish subsidies, thereby leveling the economic playing field.
When it comes to energy policy, Obama has not been America’s chosen one, bringing hope and change to the public. He seemingly prefers to be a ventriloquist’s dummy for climate change profiteers.
The failure of cap-and-trade did not end Obama’s onslaught. Facing a new Congress without a progressive majority, Obama used his executive powers to advance policies to drive fossil fuel-based energy costs higher.
Delays in oil drilling permits and a slew of EPA regulations including limits on greenhouse gas emissions are weapons to advance the green economy and bail out Obama’s billionaire masters.
While Soros’ connection to Obama is cloaked through advocacy groups, Doerr’s connection is in plain sight. Doerr was appointed to the President’s economic recovery advisory board. When that group disbanded, Doerr resurfaced in the new Council on Jobs and Competitiveness, which is led by GE CEO Jeff Immelt. On a recent West Coast trip, Obama had a dinner meeting with high tech tycoons at Doerr’s home.
Like Soros and Doerr, Immelt has placed big bets on government laws and subsidies in order to profit from GE’s investments in renewable energy. With the wheels falling off the man-made global warming bandwagon, these business leaders are desperate for government action.
We may never know why Obama is putting his political career on the line for the likes of Soros, Doerr and Immelt.
What we do know, however, is that Obama’s war on fossil fuels is being supported by the rich and powerful - a collection of social and political elites.
Congress should reign in the president’s executive powers. Toward that goal, the Energy Tax Prevention Act of 2011 was recently introduced to block the EPA from controlling carbon emissions under the Clean Air Act.
Importantly, the bill has drawn some bipartisan support but more Democrats, especially in the Senate, will be needed for the legislation to pass.
Senators such as Ben Nelson (D-NE), Claire McCaskill (D-MO), Mark Pryor (D-AR) and Jay Rockefeller (D-WV) among others must decide whether they will represent their constituents or side with Obama and his ruling class puppet masters.
Asymmetrical Politics: Republicans Act Like an Unruly Mob, Democrats Like a Regimented Army | Michael Barone