Billionaire financier George Soros stands to make handsome profits with his newly launched investment fund, established to capitalize on new "green energy" -- a policy agenda largely dependent on government subsidies supported by the Obama White House.
In a statement announcing the new venture -- dubbed Silver Lake Kraftwerk (SLKW) -- Soros describes the fund's role to "leverage technology and business model innovation to improve energy efficiency, reduce waste and emissions, harness renewable energy, and more efficiently use natural resources, among other applications... Developing alternative sources of energy and achieving greater energy efficiency is both a significant global investment opportunity and an environmental imperative.”
SLKW is “focused on providing growth capital to business innovators in the energy and resource sectors” and will operate in Silicon Valley and China.
The Washington Examiner's Tim Carney notes the connection between Soros' generous financing for liberal groups and their advancement of the "green" agenda. "The big-government policies advanced by the liberal outfits he funds -- like Center for American Progress -- will enrich the companies in which Soros is investing."
To help manage his new investments, Soros has also hired Cathy Zoi, Obama's own Acting Under Secretary for Energy and Assistant Secretary for Energy Efficiency and Renewable Energy.
"An Al Gore acolyte, Zoi was Obama's point-woman on subsidizing green tech," Carney notes. "Now she's going to work for George Soros to profit off of subsidized green tech."
Zoi's name might sound familiar. Her husband works as an executive for Serious Windows, a window company the White House has regularly hailed as a "poster child of green industry." In 2010, the Zoi was accused of having a "conflict of interest" while working on federal weatherization projects while the Obama administration awarded the industry billions in economic stimulus dollars.
The Freedom Foundation of Minnesota investigated:
"Ms. Zoi is married to Robin Roy, a top executive at Serious Materials, a privately held manufacturer of 'sustainable green building materials' located in California. On the Executive Branch Personnel Public Financial Disclosure submitted by Ms. Zoi to the White House Ethics office as part of her confirmation, Ms. Zoi disclosed ownership with her spouse of 120,000 vested and unvested stock options in Serious Materials, a company her office regulates and that she may profit from."
But that's all in the past, right?
"Now Zoi has left the Obama Administration and will go back to work making an honest living in the private sector, where she can put all the knowledge she gained from working for the Department of Energy to work for the private equity firms," CNBC's NetNet notes. "Thata girl Zoi!"