Nope, no conflict of interest here. Nothing to see, move along.
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.
So to all of those who said "Why would GE go along with the Government, if it didn't really care about Global Warming?", do you have your answer now?
It's like what happens in sales. Whenever there is an RFP*, you want to be the one who writes the RFP. That way, you can require certain elements that only your Company can deliver on, putting you in the drivers seat to get the contract, and the sale.
GE just did that, to the tune of $12 billion dollars. Per year.
*Request For Proposal
