In a world of scarce resources and growing energy needs, radical environmental groups like Sierra Club and Rainforest Action apparently have nothing better to do than attempt to smear companies like Citigroup (NYSE:C) and GE Capital (NYSE:GE) over financing so-called "environmentally destructive projects."
Their rhetoric and tactic of calling something "environmentally destructive" an attempt to end the debate as if the conclusions of these elitest organizations has some type of sway beyond others.
Who cares what these groups offer up as what are essentially report cards on their way of looking at the world? Just because the weakened and increasingly irrelevant mainstream media is in bed with these radical groups and reports their bile as if it is some type of holy proclamation, doesn't deter from the fact that extracting resources from the earth is a good thing, regardless of what the earth worshippers say.
As to the attacks on Citigroup and General Electric, this is in reference to the alleged financing of "mountaintop removal projects" in the U.S. central Appalachia region, which provides thousands of jobs to residents in the area.
The environmentalists claim that since January 2010, Bank of America (NYSE:BAC), Citigroup, Credit Suisse (NYSE:CS), Deutsche Bank (NYSE:DB), GE Capital, JPMorgan Chase (NYSE:JPM), Morgan Stanley (NYSE:MS), PNC (NYSE:PNC), UBS (NYSE:UBS) and Wells Fargo (NYSE:WFC) provided over $2.5 billion in loans and bonds to companies that conduct mountain top removal,
Our response is: keep up the good work. We need the valuable energy source, which is far from being depleted or rejected around the world, contrary to attempts to spin it that way by the media.
What we need to do is start to investigate these environmental groups to see how they have so much time on their hands and who are financing them.
Wednesday, April 6, 2011
Citigroup (C), GE (GE) Targeted by Environmental Groups over Mining Deals
Labels:
Bank of America,
Citigroup,
Deutsche Bank,
GE Capital,
General Electric,
JP Morgan,
Morgan Stanley,
PNC,
UBS,
Wells Fargo
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