1.3 C
sreda, 20 januarja, 2021

George Soros supports climate protection but invests in oil extraction

While Soros Network NGOs are fuelling climate change movements around the world, the US billionaire speculator’s international investment fund has raised 2 million dollars in just three months after buying a stake in a Texas oil company.

The widespread Soros empire, the network of Open Society foundations, has supported a number of fake civic organisations, which participated in the disruption of order in several big cities of Europe in recent months. However, similarly to aiding migration for profit rather than for humanitarian reasons, the American billionaire speculator’s interest in protecting the planet is only superficial.

The business portal Yahoo Finance quotes the pseudo-humanist financier’s words, “If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.”

Apparently, he finds fun in financing groups responsible for climate hysteria and demonstrations. Interestingly though, his money comes from investments in companies involved in fossil fuel extraction.

Yahoo Finance has compiled what companies the Soros Fund, the billionaire speculator’s notorious investment fund which once broke the British pound, has invested in in the last quarter.

The fund made three major purchases in the United States in the last quarter of 2019. One of the deals went down with the Activision Blizzard papers. The video game holding company that glues children around the world to computers and video game consoles earns revenue from the sale of softwares such as “Call of duty”, “Guitar Hero” or “World of Warcraft”, which scientists have found to be responsible for the most pathological gaming addiction in last decades among users. The Soros Fund bought 758,000 shares of ATVI for 45 million dollars.

However, he invested significantly more, over 6 billion dollars in BellRing Incorporation, a distributor of dietary supplements, protein bars and similar “healthy” foods.

By contrast, the amount Soros spent on buying shares in Pioneer, a Texas oil company, is almost negligible. In autumn 2019, the Soros Fund bought 75,000 PXD shares exactly at the time of global climate protests broke out and the value of shares in the Texas oil company began to fall. What a coincidence that this was the moment, when Soros spotted Pioneer opening a brand new oil field in the Permian Basin in Texas, which turned out to be able to produce 1 billion barrels of oil in the coming years.

The company, which collects 53 per cent of its revenues from crude oil extraction, sought to compensate for the decline in oil prices following the protests by boosting its production, so in the last quarter, when Soros also took part of its revenue, it generated 6 per cent higher profits than expected, making the Soros Fund’s shareholding worth 12 million dollars, in other words, the billionaire’s fund raised 2 million dollars from oil in three months.

In addition, stock prices are projected to rise by up to 36 per cent in the coming months, thanks to a well-planned oil rig network, meaning Soros could boost his profit with about 10-12 million dollars more in a relatively short period of time.


Latest news

Squatters evicted from Rog as building site emerges

By: Z.T.,STA Members of an autonomous social and cultural community that have been squatting the defunct Ljubljana bicycle factory Rog for years are being forcefully...

Police find ten people who threatened slovenian governemnt officials

By: P.T., STA Police have recorded 18 cases of threats to government representatives or persons connected with government work in any way from March 2020...

First EU recovery fund transfers expected before end of June

By: Z.P., STA Finance Minister Andrej Šircelj expects that the first transfers from the EU's recovery fund will be made during Portugal's EU presidency in...

Minimum wage for 2021 to be set at EUR 1,024 gross

By: N.J., STA Labour Minister Janez Cigler Kralj announced after meeting social partners that he will set the minimum wage for 2021 at EUR 1,024...

Related news

Joe Biden plans to grant citizenship to 11 million illegal immigrants

By A.S. According to the news media Biden will announce new legislation that will offer legal status to approximately 11 million illegal immigrants in the...

Anti–Defamation League calls for a criminal investigation into Gab social media platform

By A.S. The Anti – Defamation League, a Jewish organization whose main goal is “combating hate and anti-Semitism” has called on the U.S. Department of...

Prime Minister Janez Janša: Slovenia is immune to the coronavirus and resilient to the hatred that some spread.

By: gov.si Prime Minister Janez Janša was invited to the Nova24TV show. In the interview, the Prime Minister talked about vaccination, the epidemic and the...

The situation is becoming even tenser ahead of the announced vote of no confidence: The SMC MPs and the DeSUS MP are once again...

By: Sara Rančigaj Just before the Constitutional Arch Coalition will announce the long-awaited vote of no confidence, the SMC MPs and the DeSUS MP Branko...


Please enter your comment!
Please enter your name here