Bloomberg News

Tue, 2012-04-24 15:52Steve Horn
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ALEC Launches Assault on Renewable Energy Industry

The American Legislative Exchange Council (ALEC), as covered previously by DeSmogBlog, is the “Trojan Horse” behind mandating that climate change denial (“skepticism,” or “balance,” in its words) be taught in K-12 classrooms.

Well, ALEC is at it again, it appears. Facing an IRS complaint filed by Common Cause, one of the leading advocacy groups working to expose the corporate-funded bill mill, ALEC has also launched an assault on renewable energy legislation, according to a well-documented report written by Bloomberg News.

The two developments are worth unpacking.

Common Cause IRS Complaint

The Washington Post reported that on April 23, Common Cause “had filed an IRS complaint accusing ALEC of masquerading as a public charity…while doing widespread lobbying.” 

ALEC is trying to brush aside this complaint, but Common Cause presents a compelling case.

It tells the IRS in its tax returns that it does no lobbying, yet it exists to pass profit-driven legislation in statehouses all over the country that benefits its corporate members,” said Bob Edgar, president of Common Cause, in a statement. “ALEC is not entitled to abuse its charitable tax status to lobby for private corporate interests, and stick the bill to the American taxpayer.”

Common Cause wants the IRS to complete a no-holds-barred audit of ALEC’s work and to examine whether it violated IRS laws. 

Wed, 2012-01-11 07:47Brendan DeMelle
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Shale Gas Bubble: Bloomberg News Confirms NY Times Finding That Fracking Boom Is a Bust

Image credit: Shutterstock/Complot

As news outlets across America take a more rigorous look at shale gas and fracking issues, it’s encouraging to see how the media coverage is finally starting to cut through the oil industry’s misleading rhetoric to explore the realities of the myth of gas as a viable ‘bridge fuel.’

The gas industry’s loud-mouthed front group, Energy In Depth, repeatedly attacked The New York Times for their excellent Drilling Down series last year, focusing particular ire on journalist Ian Urbina. EID’s penchant for attacking the messenger shows no sign of letting up in 2012, but as other news outlets look more closely, they are not only confirming what the NY Times series found, but also adding additional evidence of the many problems with shale gas development.

The latest effort from Bloomberg News, “Shale Bubble Inflates on Near-Record Prices,” illustrates how the media’s grasp of the unconventional energy industry landscape has evolved and improved in recent months. 

This excellent reporting by Bloomberg confirms many of the facts that The New York Times reported last summer in “Insiders Sound an Alarm Amid a Natural Gas Rush” and “Behind Veneer, Doubt on Future of Natural Gas.”

While many major outlets have covered the myriad environmental and public health risks of fracking and related drilling practices, the NY Times and now Bloomberg have both exposed the fact that the economics of risky and expensive unconventional gas recovery simply don’t match up with industry geologists’ claims of a “nearly limitless” supply.

Investors are increasingly taking notice of the unpredictable nature of this industry and questioning its risky behavior. Is there really as much gas down there as the industry claims? If so, how much is economically recoverable?

Wed, 2011-10-05 09:13Brendan DeMelle
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Greenpeace Calls On Congress To Investigate Koch's Illegal Practices

Greenpeace USA today called for a full Congressional investigation of Koch Industries and the illegal practices detailed in the Bloomberg Markets Magazine piece, “Koch Brothers Flout Law Getting Richer With Secret Iran Sales.”

The Bloomberg coverage reveals multiple allegations of Koch Industries bribing government officials around the world and doing business with Iran. In a Huffington Post blog announcing the call for Congress to investigate Koch, Greenpeace USA Executive Director Phil Radford writes, “this new [Bloomberg] investigation reveals a blatant disregard for our laws, so today Greenpeace has called for a full Congressional investigation of Koch Industries and the illegal practices detailed in the Bloomberg report.” 

Greenpeace has extensively documented the Koch brothers' key role in backing the climate denial machine and other nefarious Koch Industries behavior. Now the Bloomberg revelations raise the heat even further on the $50-billionaire-brothers David and Charles Koch. 

Here is the text of the letter that Phil Radford, Executive Director of Greenpeace USA, sent today to key members of Congress:

Tue, 2011-10-04 02:26Steve Horn
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Koch Brothers "Secret Sins" Exposed In Bloomberg News Investigation

Bloomberg has released a whopping 21-page investigative and historical essay on the many crimes of the infamous Koch Brothers, their company Koch Industries and its array of subsidiaries. The feature piece in Bloomberg Markets Magazine​'s November edition, the article is titled, “Koch Brothers Flout Law With Secret Iran Sales,” although the title is a bit of a misnomer – while part of the story, the Iran angle is but a small piece of it. 

Indeed, the article leaves any person with faith in the American legal system wondering, “How could these guys not possibly be locked up in prison?” A few stunning article highlights (or lowlights) show that it's not for lack of contemptible behavior, that's for certain:

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