FULL "DISCLOSURE:"
WASHINGTON POST
PRINTS NEGATIVE
STORY ON WOOD
BIOFUEL CREDITS,
FAILS TO DISCLOSE
POST CO. DIRECTOR'S
FINANCIAL INTEREST
IN CHEAP
LUMBER
The Washington Post has once again failed to disclose a financial conflict of interest with a topic it is covering. Sunday's Post contained an article that painted a negative picture of biofuel/biomass tax credits and subsidies from the Federal government, that are artificially raising the cost of lumber used for applications such as composite board used in homebuilding.
Here's the problem: Post Co. Director Warren Buffett just happens to have an ownership stake or financial interest in multiple companies that utilize wood and wood byproducts for everything from custom wood frames (Larson-Juhl, Inc.) to home furniture (RC Willey Home Furnishings, Star Furniture, Nebraska Furniture Mart) to - yes - homebuilding (such as a little company called Crest Modular Homes, and Clayton Homes, to name two). For shame, for shame.
There are so many instances of conflict of interest in the Post's reporting, that I'm getting a bit bored investigating and bringing you the facts. But in a town where no one else will report on these things, someone has to do it!
By the way, I oppose many of these biofuel, biomass initiatives myself because they drive up the costs of everything from homes to food, which is morally questionable. Especially when the rationale for these fuels is a mere theory and hoax known as "global warming" (or as they have to call it during 2 solid months of below-freezing weather, "climate change"). So I guess I actually agree with Mr. Buffett on this one.
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