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So-Called ‘Libertarian’ Koch Brothers Make a Mint on Government Contracts Selling Crude Oil

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Charles and David Koch, two of America’s most well-known political benefactors, have a long history of profiting from government contracts.

The self-proclaimed libertarian business moguls, who spend tens of millions of dollars in pursuit of bolstering their limited government bona fides telling the public they avidly support free market capitalism, quietly rake in tens of millions of dollars across several sectors of their industrial empire.

“Koch Supply & Trading, LP, one of the world’s largest crude oil trading companies, will become the newest supplier of crude oil to the Strategic Petroleum Reserve (SPR) under President Bush’s plan, announced last November, to fill the nation’s emergency oil stockpile to its full capacity by 2005,” according to a Department of Energy report.

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The SPR is a government-run oil reserve that “provides the nation with an energy resource that can be used as directed by the President to protect Americans against future supply disruptions.”

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Charles and David Koch own Koch Industries, the second largest company in America. They are well known for opposing tariffs, government subsidies and government contracts, instead proselytizing about “free trade.” Right now, they are bashing President Donald J. Trump because of his stance on trade and imposing tariffs on foreign goods.

Americans for Prosperity, Freedom Partners Chamber of Commerce and the LIBRE Initiative, non-profits that are all financially-backed by the Kochs’s “champion the far-reaching benefits of trade and oppose tariffs and other barriers.”

Except when government dealings benefit them, of course.

“The contract to Koch is part of the Administration’s ‘royalty-in-kind’ exchange program in which crude oil from federal leases in the Gulf of Mexico is exchanged for oil to be stored in the SPR for emergency protection against future supply disruptions,” says the DOE report.

“The program is carried out cooperatively with the U.S. Department of Interior’s Minerals Management Service (MMS). MMS recently awarded contracts for a similar amount of royalty oil to be delivered from designated Gulf of Mexico production platforms to “market centers.” Koch will receive the crude oil at the market centers and deliver “in-kind” crude to the SPR.”

In fact, the Koch’s have received at least $100 million in government contracts, all while railing against the ills of big government.

Charles and David Koch represent the elite donor class that has, along with globalist politicians, enriched itself at the expense of the average American.

The Koch’s do not oppose Trump’s agenda because they believe in limited government. They oppose it because it means the end of their revolving-door relationship with politicians and lobbyists who have long-served only their interests, not the interests of the people.

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Big League Trade

Georgia’s Unelected RINO Senator Cashed Out on Stocks After Coronavirus Briefing

Sen. Kelly Loeffler has demonstrated her cronyism.

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Sen. Kelly Loeffler (R-GA), who was appointed to her post undemocratically against the wishes of President Donald Trump, has been revealed for selling stock shortly after a private briefing on the coronavirus.

She and her husband sold off a stunning seven figures worth of stock options after the Senate Health Committee held a private meeting with all Senators to brief them about the growing coronavirus epidemic.

“Appreciate today’s briefing from the President’s top health officials on the novel coronavirus outbreak. These men and women are working around the clock to keep our country safe and healthy,” Loeffler wrote in a tweet about the briefing at the time.

Loeffler dumped stocks worth between $50,001 and $100,000 in Resideo Technologies following the hearing. The stock for Resideo has dropped by half since that point, as the Dow Jones has tanked by losing roughly 10,000 points.

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She also made a buy of between $100,000 and $250,000 in Citrix, a tech firm specializing in teleworking that has bucked the market during its downturn due to the increased demand for remote networking because of coronavirus.

In subsequent tweets, Loeffler has repeatedly downplayed the threat of coronavirus.

“Democrats have dangerously and intentionally misled the American people on #Coronavirus readiness,” she wrote in a tweet on Feb. 28. “Here’s the truth: @realDonaldTrump & his administration are doing a great job working to keep Americans healthy & safe.”

“Concerned about #coronavirus?” she wrote in a tweet on March 10. “Remember this: The consumer is strong, the economy is strong, & jobs are growing, which puts us in the best economic position to tackle #COVID19 & keep Americans safe.”

Since she wrote those tweets, most of the country has been locked down, Wall Street has cratered, and death tolls have continued to spike.

Loeffler is not the only Senator who seemingly took information about coronavirus to benefit their own finances. Sen. Richard Burr (R-NC), who is chair of the Senate Intelligence Committee, had his hand caught in the cookie jar as well. He jettisoned between $500,000 and $1.5 million of stock in February after the meeting.

Burr knew about how potentially deadly the coronavirus could become, but only told his inner circle of well-connected constituents and kept the public in the dark.

“There’s one thing that I can tell you about this: It is much more aggressive in its transmission than anything that we have seen in recent history,” he told the insiders in the uncovered audio. “It is probably more akin to the 1918 pandemic.”

Loeffler was appointed to the U.S. Senate seat last year by Georgia Gov. Brian Kemp against the counsel of President Trump. Trump’s preferred pick for the seat, Rep. Doug Collins, is challenging Loeffler for her Senate position right now. The U.S. Senate election in Georgia will take place in November with multiple Republicans on the ballot.

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