The billionaire’s newest fossil fuel investment was $87 million in Alerian, MLP, a fund that solely invests in “energy infrastructure” consisting of pipelines, storage tanks and processing plants for crude oil and natural gas. He purchased eight million shares of the company.
His company’s second biggest energy investment was Halliburton, one of the world’s largest oil exploration and drilling companies. His firm purchased 842,000 shares valued at $30 million.
Soros not only invested in oil and natural gas companies, but also into coal. Soros tried to position himself as an enemy of coal, stating at the 2009 Copenhagen climate change summit, “There is no magic bullet for climate change, but there is a lethal bullet: coal.”
In the last quarter, however, he invested $4.7 million into Peabody Energy Corporation, the largest “pure play coal company” in the United States, according to the company’s website. Peabody sold 188 million tons of coal to electric utilities in 2016. The company operates 23 surface and underground mines in the United States and in Australia.