Power giant Duke Energy is subsidizing the Democratic National Convention by guaranteeing a $10 million line of credit for the convention. The convention, like all recent major-party conventions, will basically be a political commercial for the party’s nominee — President Barack Obama.
Duke is one of the biggest businesses in Charlotte, where the convention will be. But it is also a very political and politically connected company that stands to profit off of a friendly politician in the White House.
Duke has lobbied for and stands to profit from the sort of cap-and-trade policies President Obama supports, as well as other Obama green-energy subsidies. Specifically, Duke has pocketed $230 million in taxpayer money from Obama’s stimulus, according to the Washigton Free Beacon‘s Andrew Stiles.
Read more at the Washington Examiner.
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Duke claims they made a 4.8 billion dollar investment to justify a 7.2% increase effective Feb./2012 for all Duke Energy customers in NC but they have an extra 10 million dollars hanging around for the Dems and their convention…right.