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Feb 23 2012

Duke Energy’s Support for Dems Pays Off in Taxpayer Cash

If there is a line between crony capitalism and criminal corruption, Obama et al. left it behind them with Solyndra and are not looking back. As the nation is bled to death by our rogue government, our money goes into the pockets of crooks like Jim Rogers:

Jim Rogers, the co-chairman and lead fundraiser for the Democratic National Convention host-committee, is well versed in the art of political cronyism.

Rogers, the CEO of Duke Energy Corp., one of the largest utility corporations in the country, has given generously to Democratic politicians over the years. Along with his wife, Mary Anne, he has contributed more than $210,000 to Democratic candidates and committees since 2008, more than double what the couple has given to Republicans. Of that figure, more than $150,000 went to the Democratic National Committee (DNC); $19,200 went to President Obama.

Rogers is co-chairing the host committee with Charlotte Mayor Anthony Foxx (D), who was elected to a second term in November 2011. Rogers and his wife both contributed $8,000 to Foxx’s campaign, the maximum allowed under state law.

Rogers has also done his part to make sure that the convention has access to plenty of cash. The Charlotte Observer reported that Rogers was “quietly raising” as much as $15 million for the DNC.

Duke Energy has done more to curry favor with our rulers.

Though headquartered in Charlotte, Duke maintains an active presence in Washington, D.C., having spent more than $26 million lobbying the federal government on energy-related issues since 2007.

The payoff comes at the expense of working stiffs who pay taxes.

Just as Rogers has helped fund Democratic politicians, they, in turn, have helped steer massive amounts of federal funding to Duke Energy. The 2009 stimulus package, for instance, was a boon for the company: Duke received federal grants totaling $230.4 million for a number of “green” energy projects including “smart grid” development and wind energy storage.

According to Recovery.gov, Duke created 196.6 jobs as a result of the grants.

That’s $1,171,922.69 looted from the future per job, assuming you believe the government’s rosy spin. Hopefully most of the jobs last until the boondoggle collapses like Solyndra.

The company also received a $350,000 grant to assist General Motors in the development of the Chevrolet Volt, the poorly selling electric vehicle that the Obama administration has recently proposed subsidizing at a rate of $10,000 per car.

Under capitalist oppression, you got rich by providing the public with something it wanted at a price it could afford. Now you get rich by sucking up to the corruptocrats in Washington.

The whole point of America was to prevent what we now call Obamanomics.

Duke-Energy-windmill
Wealth is no longer created, but redistributed.

On a tip from J. Hat tip: Big Government.

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  • Sam Adams

    There was a time that, in order to curry favor with the king, one would present him with the spoils of war or lavish gifts. He, in turn, would grand to those who found favor either some of his own spoils of war, or some of the lands and riches that he had at his disposal.

    It’s good to be king, and it is good to be in the king’s good graces. And you can buy your way into his good graces.

  • Kevin R.

    This graft is going to multiply astronomically if Obama gets reelected. There’s a piece in the WSJ today by Daniel Henninger, Obama’s Virtual Economy:

    http://online.wsj.com/article/SB10001424052970203918304577239451282407114.html

    Obama intends to change us from an oil based economy to a “Bioeconomy.” The implications are quite staggering on many levels.

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