The controversial and mysterious Koch Brothers’ may be bad for America.
In an interview on Yahoo’s Daily Ticker, T. Boone Pickens singles out brothers Charles and David’s Koch Industries, which among other items produces fertiliser and chemicals, as single-handedly preventing the U.S. from setting a cohesive energy policy.
“The biggest deterrent to an energy plan in America is Koch Industries,” the BP Capital founder tells Yahoo’s Aaron Task. “They do not want an energy plan for America because they have the cheapest natural gas price they’ve ever had, and they’re in the fertiliser business and they’re in the chemical business. So their margins are huge. And they do not want you to have an energy plan, because if you had a plan, then natural gas prices would come up.”
The second-largest private company in the United States, Koch Industries has spent at least $5 million in lobbying in each of the past four years, and given at least $1,000,000 in seven of the last eight election cycles, according to data from OpenSecrets.
In 2008, the company spent nearly $18 million on lobbying for oil and gas interests alone, according to Open Secrets. They’ve already spent $2.3 million on oil and gas lobbying in 2012.
Pickens concedes that it is generally difficult to find the momentum to put together a cohesive energy plan.
“It isn’t a failure of the Democrats. It’s not a failure of the Republicans. It’s a bipartisan failure. Over the years neither party could provide the leadership to have an energy plan.”