Wednesday, June 4, 2014

Vice President Biden - Big Oil's "Fixer"

An interesting article in Roll Call this week has an interesting explanation for the Obama administration recent decision to gut the Renewable Fuels Standard (RFS).

While the left hand of President Obama is crushing the coal-power industry, the right hand is helping Big Oil.

And who is that right hand?

Who could be responsible for such a conundrum? Vice President Joseph R. Biden Jr., it turns out. According to a Reuters article published in mid-May, the events that lead to the RFS mandates reduction began when the Carlyle Group, the powerful Washington, D.C.-based private equity firm, became concerned about the profitability of two oil refineries it owns in Philadelphia. Lower RFS mandates would help Carlyle’s bottom line

Just follow the money.

Source: Roll Call


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