Chavez, Joe Kennedy and Oil Math :: GREAT ARTICLE ON CHAVEZ AND KENNEDY AND DELAHUNT

Human Events ^ | 01/07/2009 | by Gen. Donald Blaine Smith and Christopher Brown

[RaceBannon]

http://www.humanevents.com/article.php?id=24351

Chavez, Joe Kennedy and Oil Math by Gen. Donald Blaine Smith and Christopher Brown

It’s hard to avoid the commercials starring former Congressman Joseph Kennedy II explaining how friendly Venezuela and Hugo Chavez are to the American people. After all Chavez and Kennedy are bringing relief to the poor people of America who suffer under the evil tyranny of high fuel costs. However, reality has a tendency to get in the way of press events for Citgo and Citizens Energy Corporation such as the scenes of Joe Kennedy driving up to house in a Citgo truck to deliver 40% cheaper heating oil from his “not-for-profit energy company.” The last thing anyone involved in this program wants is for someone to look behind the curtain.

[RaceBannon]

First, Citizens Energy Corporation is not the organization that is directly involved with the program. Rather, one has to first look to a holding company, which is a for-profit and wholly owned subsidiary of Citizens Energy’s called Citizens Enterprises Corporation: first, eighty-six percent of Mr. Kennedy’s over $400,000 annual salary comes from this organization. Second, among the nine companies that it manages is Citizens Program Corporation, which directly handles the Citgo heating oil program. This company went from having almost no assets in 2004 to recording the purchase and later sale of over two million dollars worth of oil in 2005. Then in the first half of 2006 they managed to buy over ten million dollars in oil which they sold for over sixteen million dollars.

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Human Events is a great source of news, so I am truncating this post so people go to Human Event's website.

Enjoy!

[sono]

1 800 JO 4 RICO.

[mimaw]

No surprise here, the effing Kennedy’s have been in bed with the enemy dating back to the old fart Joe and his affinity for Hitler.

[lowbridge]

bump

[LibFreeOrDie]

The Boston Globe (surprisingly) wrote an article called “CITIZENS ENERGY SEEN PROVIDING PROFIT, PODIUM” in 1998 exposing this sham “non-profit.” Unfortunately, you have to pay to access it now.

It was written soon after Joe Kennedy’s brother, Michael Kennedy (who had been schtupping the teenage babysitter) skied into a tree. He had been the chairman of the enterprise. He was making in the high 6-figures. It was all based on transfers between paper corporations. What a scam!

Here’s the only part of the article that’s available for free:

“When Joseph P. Kennedy II first ran for Congress in 1986, he did so from a scrappy — and nearly broke — nonprofit company called Citizens Energy Corp., which he founded to provide poor people cheap heating oil. When Kennedy retires from Congress next year, he will return to a well-heeled, well-financed, company with interests in everything from acquaculture to mail-order drugs.

But Citizens Energy, which will once again become his base of operations, is also a firm that has been deeply shaken by a series of recent reverses. Among them: a horrendous scandal and then the death of its former chairman, Joe’s younger brother, Michael; embarrassing questions about whether top executives were ... “

[VeniVidiVici]

According to Citgo 40 million gallons of oil went to help 181,000 households last year, however Citizens Energy claims it was 170,000 households. Now if you take the average cost of home heating oil (which was $2.43 per gallon), and the amount of $6,463,078 that Citizens Programs Corporation claimed to have spent on this program, the greatest number of gallons they could have been provided was 2,657,702. This is significantly less than the forty million gallons Citgo claims to have provided.

Could it be "Citizens" is skimming a little off the top? Running their own 'Oil for Food" program?

Say it ain't so, Joe!

[Wally_Kalbacken]

My fundamental question is this: Since the Carter-era energy crisis in the late 70’s - hasn’t enough time elapsed to have moved people off oil as a heating fuel? Is it possible that Joe Kennedy’s socialist venture has retarded transformation of home heating systems to other fuels, with better environmental effects and less susceptible to the vicissitudes of the oil market?

[razorback-bert]

Smells like a money laundry.

[okie01]

Since the Carter-era energy crisis in the late 70’s - hasn’t enough time elapsed to have moved people off oil as a heating fuel?

For reasons unknown, the Northeast insists on heating oil rather than the far cleaner, more efficient natural gas. The other option -- electricity -- is not the most efficient way to heat a house, particularly in a cold climate.

Whether it is the fault of the utilities or the market, I couldn't say. Though I suspect the heating oil business might be dominated by politically-favored thugs...

[Eric in the Ozarks]

Lack of natural gas pipelines serving residential areas in the NE are the cause. At $2.43/gallon, this equates to $17.10 MM/BTUs. Natural gas at the residential level is about $12.00 MM/BTUs. Industrial users are paying about $6.25 or less.

[NonValueAdded]

Holy Carp! That is an earth-shattering exposé and if the Kennedys had an R after their name instead of a D would get universal nonstop coverage by the MSM.

Hmmmmm, can you say Qui Tam?

[LibFreeOrDie]

A lot of the housing stock is old in NE, over 50 years old, built when oil heat was the norm. Over 5,000,000 households in NE use oil heat.

Newer (in the last 20 years or so) housing developments in NE do have natural gas.

[J Aguilar]

The Kennedy’s aren’t the only Americans that have recieved money from Chavez.

Chavez has paid last fall 1,2 billion for nationalizing a broke bank in Venezuela owned by Spanish Santander. Santander, among the twenty biggest banks in the world, is participated by several American banks and funds.

A good cash in times of need.

[SuziQ]

This discounted home heating oil program has always been, and will always be, first and foremost, about Joe Kennedy. Thus the phone number, 1-800-JOE4OIL. I think his original intent was to use it as a springboard into politics in MA, with a run for Governor. When his first wife’s ‘tell all’ book came out, it diminished him in the eyes of the voters, so I think he’s using this to redeem himself. Not to mention the fact that he’s reaping quite a tidy income for himself in the process.