Follow the money blocking Climate Change bills

5 mins read

Follow the money blocking Climate Change bills

“NO LABELS TO HOST BILLIONAIRE GATHERING WITH JOE MANCHIN IN LOS ANGELES” – Lee Fang in The Intercept

Puzzled why politicians block bills to fight Climate Change? Follow the money. Who donates to them? What do the donors want? Do the own oil companies or coal mines adding to Climate Change that might be hurt by the legislation? Follow the money with this relationship map for: Billionaire donors supporting NO LABELS. Links between Political Action Committees (PACs) and the politicians who blocked Build Back Better bill. Environmental groups fighting to protect our planet.

Follow the money blocking Climate Change bills

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Billionaires put profits over the planet

“SEN. JOE MANCHIN, D-W.Va., will be headed to a billionaire-backed gathering in Los Angeles on April 30. The private event, per an email shared with The Intercept, will be at the home of billionaire Howard Marks, co-founder of Oaktree Capital Management, an investment fund that specializes in distressed debt… The event, which is hosted by No Labels, comes as Manchin is mulling another round of reconciliation talks to pass a major economic and climate bill — the last chance to do so before the 2022 midterms.” – The Intercept

Let’s start there. A quick search shows that one of Oaktree’s largest holdings is in Chesapeake Energy. The firm is engaged in the ‘production company, engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs in the United States.’

Burning fossil fuels like coal and oil contribute to climate change. So a bill that discourages their consumption is bad for business. So what’s a billionaire to do?

“Manchin is one of the most prominent members of No Labels, a political action committee largely funded by finance industry leaders that rallied moderate members of both parties to oppose President Joe Biden’s Build Back Better package of reforms, including a universal preschool program, the extension of the child tax credit, and the establishment of a hearing aid benefit for Medicare beneficiaries.” No Labels, is a big money operation co-founded by former Sen. Joe Lieberman that funnels high-net-worth donor money to conservative Democrats and moderate Republicans… The meeting was led by Nancy Jacobson, the co-founder of No Labels. – The Intercept

Follow the money. Always.

Climate change hurts us all

Wealth is no protection against climate change. It’s a shame politicians supposed to represent the people who elected them, just cater to their billionaire donors instead.

Oh, when the rain fall, fall, fall now
It don’t fall on one man’s housetop. Remember that
When the rain fall
It don’t fall on one man’s housetop

– Bob Marley

TakeAway: Follow the money to see how billionaires get to buy the legislation to increase their profits at the expense of everyone else.

Deepak
DemLabs

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