Job Czar Jeffrey Immelt: Crony Capitalism 101: A Limerick.

Corruption shows a familiar ring:

Immelt has friends in the White House wing

Re: Power consumption.

He got his exemption.

It  helps to be friend of the King.

Obama issues global warming rules in January, gives GE an exemption in February

By: Timothey P.Carney, Washington Examiner 02/02/11 4:50 PM

Jan 2011, the Obama EPA began enforcing new rules regulating the greenhouse gas emissions from any new or expanded power plants.

A week later the EPA issued its first exemption, Environment & Energy News reports:

The Obama administration will spare a stalled power plant project in California from the newest federal limits on greenhouse gases and conventional air pollution, U.S. EPA says in a new court filing that marks a policy shift in the face of industry groups and Republicans accusing the agency of holding up construction of large industrial facilities. According to a declaration by air chief Gina McCarthy, officials reviewed EPA policies and decided it was appropriate to “grandfather” projects such as the Avenal Power Center, a proposed 600-megawatt power plant in the San Joaquin Valley, so they are exempted from rules such as new air quality standards for smog-forming nitrogen dioxide (NO2).

There’s something interesting about the Avenal Power Center The proposed Avenal Energy project will be a combined-cycle generating plant consisting of two natural gas-fired General Electric 7FA Gas Turbines with Heat Recovery Steam Generators (HRSG) and one General Electric Steam Turbine.

Maybe GE CEO Jeff Immelt’s closeness to President Obama, and his broad support for Obama’s agenda, had nothing to do with this exemption. But we have no way of knowing that, and given the administration’s record of regularly misleading Americans regarding lobbyists, frankly, I wouldn’t trust the White House if they told me there was no connection. On the upside, at least Job Czar Immelt is creating jobs!

Jeffrey Immelt, Crony Capitalist. A Limerick.

Obama names GE CEO as head of new economic board From Michael O’Brien – 01/21/11 The top executive at one of America’s largest corporations is taking over as head of President Obama’s outside economic advisory council.

Obama named Jeffery Immelt, the chief executive officer of General Electric (GE), as chairman of the new Council on Jobs and Competitiveness. The president announced the appointment during a Friday trip to Schenectady, N.Y., where he  visited the birthplace of GE, the fourth-largest U.S. company, according to Fortune magazine.  Immelt replaces Paul Volcker, the former chairman of the Federal Reserve Board, who will step down from his post as head of the Economic Recovery Advisory Board, an outside panel recommending solutions on how best to boost the economy. Immelt had previously served as a member of the board, which includes prominent business and labor leaders.

Appoint Jeffrey Immelt, Barry’s old protegé.

He will do to this land what he did for GE

Run it into the ground

No new jobs to be found

But promoting this President, that’s his forté.