How many times do we have to hear about the evil one-percenters who embrace the Republican party? Or how many times shall we have to endure Senator Harry Reid disparage the Koch brothers? Will we ever hear the liberal progressive socialists admit their own hypocrisy with billionaire George Soros who is behind every major left-wing radical organization or initiative? Nah, of course not.
Because they’re too busy embracing hypocrites like Tom Steyer. As Powerline reports, “Billionaire hedge fund operator and “green” energy magnate Tom Steyer has pledged $100 million in the 2014 election cycle to help Democratic candidates who oppose the Keystone pipeline and who favor “green” energy over fossil fuels.” Wait, I thought those hedge fund folks were bad and evil?
Anyway, in typical liberal progressive fashion, Steyer believes he’s on a mission to shape what’s best for all of us. In 2012 he left his position at Farallon, the company he co-founded, in order to focus on political activism, in particular on advocating for alternative energy.
Steyer claims to be a man of principle who has no financial interest in the causes he supports, but acts only for the public good. Ha. Steyer depends on government connections to produce subsidies and mandates that make his “green” energy investments profitable. He also is, or was until recently, a major investor in Kinder Morgan, which is building a competitor to the Keystone pipeline.
But wait, there’s more.
According to Powerline, today he is a bitter opponent of fossil fuels, especially coal — how convenient it seems. That fits with his current economic interests: banning coal-fired power plants will boost the value of his solar projects. But it was not always thus. In fact, Steyer owes his fortune in large part to the fact that he was one of the world’s largest financers of coal projects. Tom Steyer was for coal before he was against it.
But hardly anyone in the U.S. knows about this, because all of his investments in coal, through Farallon, the company he founded, have been done overseas, and wherever possible, through corporate structures that make it difficult to trace their direct involvement. Powerline presents some interesting facts:
• Over the past decade Farallon has become, without question, the pre-eminent financier of coal transactions in Asia and Australia.
• The coal mines Steyer funded through Farallon produce an amount of CO2 each year equivalent to about 28 percent of the amount of CO2 produced in the US each year by coal burned for electricity generation.
• The half dozen Indonesian and Australian coal producers in Farallon’s investment stable produced about 80 mtpa of coal collectively prior to Farallon’s involvement. By 2012 these companies produced 150 mtpa, making them together the largest private sector coal companies in the world. I guess once he made his billions from coal production, he got “environmental religion.” (By comparison, the “famously evil” Koch brothers appear to own a grand total of … wait for it ….ONE coal mine which, at its peak, produced 6 mtpa and is no longer in operation)
You can read the full report here, but I think you get the picture. Tom Steyer is just another typical liberal progressive socialist hypocrite and liar, nothing more than another profiteer looking to use government to further his own causes — and it ain’t about the “public good.” As they always say, follow the money, and when you do, you find the real interests of those supporting the Democrat party — the party of Wall Street.
There’s nothing wrong with free market capitalism. But there is something very wrong with crony capitalism.