The Money Trail Boxer pays off GE in climate bill
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30 September 2009
Sen. Barbara Boxer’s climate bill set to be released today contains a provision that will compensate General Electric quite nicely for its lobbying and media efforts promoting climate legislation.
Section 821(c) requires that, by December 12, 2012, the EPA set standards for greenhouse gas emissions from “new aircraft and new engines used in new aircraft.”
General Electric is the world’s largest manufacturer of commercial and military jet engines, a business worth about $12 billion in annual revenues.
So the Boxer bill would compel airlines and the military, when purchasing new aircraft and new aircraft engines, to purchase more expensive “green” engines made by GE, according to standards set by the current and GE-lobbied Obama administration.
Keep in mind that GE CEO Jeff Immelt is member of President Obama’s Economic Recovery Advisory Council.
More evidence that GE’s political action committee (GEPAC) meant what it said in its August 19, 2009 e-mail to employees:
The intersection between GE’s interests and government action is clearer than ever.
Other payoffs to GE will likely be unconvered as Boxer’s bill virtually requires the purchase of other GE products including wind turbines, solar panels and water products.
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