How political donations set Obama's policy: Keystone XL pipeline edition

When I first heard about Obama delaying the permit process for the Keystone pipeline, I was truly shocked. I did not understand how you could be against something that would create so many American jobs and help us supply less oil from the middle east and OPEC. Add that the administration said "we haven't had enough time to learn the impact on the environment", when they had 3 years to research it and had reports from the Department of State showing the impact to be "minuscule".

But, I should have known better. I should have seen the connection immediately. Obama is like all politicians... he owes the billionaires who supported his campaign, and will watch out for their financial interests. The donations even buy them private meetings with the president! Fundraisers are also a common tool to get access to the President that many others could never achieve.

The "charge" being brought by this article on Bloomberg(credit to Derrick Bemis), as well as a few others, is that Warren Buffett would benefit from the denial of the pipeline. Warren Buffett has interest in the BNSF railroad which, if the pipeline isn't approved, will be asked to haul more fuel in its tank cars. This is just one example, but it led to me researching other examples of how big donors shape the Obama administration agenda. And Obama doesn't have a shortage of big donors....




Warren Buffett
I  already mentioned the pipeline, but did I mention the person in Nebraska that funded the anti-pipeline campaign? It was Buffett's friend! Also mentioned in the article, the denial of the pipeline could mean China will get their hands on the oil. This is bad, bad, news for the future of oil in the United States.

We can also talk about his secretary... how that poor lady(who makes over $200,000 a year) pays such high taxes... and Mr. Buffett gets off with a lower rate. Let's remember, Buffett does this by paying capital gains tax of 15%. That 15% has already been taxed at a corporate rate of 35%... so profits are being taxed at he 35% + 15%... So while his argument is cute and all, it isn't exactly based in reality. Add that he avoids taxes at all costs, and you see the caricature he really is.

Warren Buffett is also in favor of the estate tax. Sure he'll say because everyone should "do their part" or "pay their fair share", but in reality, he is once again lining his pockets. And if he really loves this tax too, why is he going to all costs to avoid it?


George Soros

From the very beginning, Soros and Obama were close. Soros was introduced to Obama before he announced he would run, and the money has been flowing ever since. Soros himself contributed $250,000 for Obama's inauguration and over $60,000 in campaign contributions.  On top of this, anyone that is familiar with Soros knows that he donates to liberal political action groups to the tune of $100+ million a year... Soros has also been public with his displeasure of Obama, but things appear to be looking up:

Just last week, Obama announced a natural gas initiative that will directly benefit Soros. From April 2011, you can also see that Obama encouraged exploration in other countries, New Guinea specifically... and who has interests in InterOil, a main player in the oilfield in New Guinea? Of course you know who...

Solyndra
I'm sure most have heard of this debacle... and this article is a great, but long, summary of the situation. In the end, the Obama administration gave Solyndra loans, paraded around the campus calling it a success... all while every indication was that the company was hurting... badly. To make matters worse, it also came out that Solyndra is owned by Obama donors, and the loans were approved only a short time after Obama had private meetings with BOK and Oklahoma's own George Kaiser. It has also been estimated that George Kaiser has donated between $50,000 and $100,000 to the Obama campaign.





This isn't just an Obama problem. Romney has billionaires supporting him too, which is one of the reasons I've been hesitant to support him(his wealth is a non-factor, the donations are). We know George W. had plenty of billionaire backers as well... It just goes to show the problems with our system. But, with all these billionaires supporting Obama then getting their pet projects in return... the question begs to be asked... if Obama really a champion of the poor, why do the rich support him in droves?