In Wednesday night’s Democratic debate, Bloomberg pompously claimed, “We’re closing the coal-fired power plants. If we could enforce some of the rules on fracking so that they don’t release methane into the air and into the water, you’ll make a big difference. But we’re not going to get rid of fracking for a while. And we, incidentally not just natural gas. You frack oil, as well. It is a technique, and when it’s done poorly, like they’re doing in too many places where the methane gets out into the air, it is very damaging. But it’s a transition fuel…”
There’s a reason the mumbling Bloomberg has committed a portion of his fortune to fight coal while arguing that fracked gas is a “transition fuel” — he has massive investments in natural gas. A mysterious money management group called Willett Advisors, that handles Bloomberg’s riches, states they “are natural gas bulls” and “we invest a lot in the energy sector.” He’s banking on fracked gas and not renewable energy to power the US economy into the future.