Another Democrat Candidate

Recently Tom Steyer announced that he was running for President as a Democrat. The millionaire is running on a ‘5 Rights’ agenda. According to The Washington Times, the ‘5 Rights’ are:  “unencumbered access to voting, clean air and water, education, a living wage and healthcare to be constitutionally protected for every American.”

Tom Steyer portrays himself as an environmentalist who opposes the use of coal for energy, but his history tells another story.

Yesterday Breitbart posted the following:

Despite marketing himself as an “environmental justice” advocate combating “climate change,” billionaire Democrat presidential candidate Tom Steyer oversaw the funding of coal plants in Australia, China, and Indonesia during his tenure as CEO of hedge fund Farallon Capital Management.

Steyer also bought and sold coal stocks during the Obama administration’s “war on coal,” explained Peter Schweizer, president of the Government Accountability Institute and senior contributor at Breitbart News, in episode four of the Drill Down.

There is nothing wrong with funding coal plants, but the hypocrisy is another example of the ‘rules for thee, but not for me’ attitude held by so many in the political class.

The article concludes:

Steyer also circumvented conflict-of-interest regulations prohibiting American advisers from investing in countries they were assisting following the collapse of the Soviet Union and subsequent privatization of Russian industries. Larry Summers, former president of Harvard University and economics adviser to the Obama administration, was tasked with overseeing Russian industries’ presumed shift towards free market operations. Steyer worked with Summers’ wife, possibly gleaning insider information upon which to make investment decisions.

“It’s a classic maneuver of crony capitalism,” said Schweizer of Steyer’s evasion of the aforementioned conflict-of-interest regulations.

Please follow the link to read the entire article. Tom Steyer is not someone we want in the White House.

Making Another Bad Deal

The U.K. Mail Online is reporting that President Obama has struck a deal with China.

The article reports:

U.S. President Barack Obama today struck a landmark deal with China that would see both countries significantly reduce their greenhouse gas emissions over the next three decades.

Under the agreement, America pledged to cut between 26 and 28 per cent of the level of its carbon emissions set in 2005 by 2025 as part of the global fight against climate change.

But Chinese President Xi Jinping simply said he would aim to cap his country’s emissions by 2030 – still an unprecedented move by a nation that has been reluctant to box itself in on global warming.

So President Obama is willingly going to cripple the American economy while China continues to pollute and grow its economy. Wow! What a deal!

The article further reports:

The U.S.’s target to reduce its emissions of heat-trapping gases by 26 percent to 28 percent by 2025 is a sharp increase from Obama’s earlier vow to cut emissions by 17 percent by 2020.

However, China, whose emissions are still growing as it builds new coal plants, did not commit to cut emissions by a specific amount.

As the Daily Caller reported in January 2014:

“As coal-fired power plants are set to retire and EPA uses every regulatory trick in the book to make sure no new plants are built, we are going to see increased uncertainty in energy prices, reliability, capacity and reserves,” Louisiana Republican Sen. David Vitter told The Daily Caller News Foundation in an emailed statement.

This news comes as China approved 100 million metric tons of new coal production capacity in 2013, despite air widespread air pollution concerns in the country. This is part of the Chinese government’s plan to bring 860 million metric tons of coal production online by 2015 — more than the entire annual coal output of India.

“By requiring CCS, EPA is placing a de facto ban on the construction of new coal-fueled power plants, handing over leadership of the development of CCS, and an estimated $1 trillion in economic benefits, to countries like China,” said Laura Sheehan, spokeswoman for the American Coalition for Clean Coal Electricity.

Even if America stopped burning coal, the impact on the global environment would be minimal if China continued to build coal plants at its present rate. Note that China has made no promises to actually stop what it is doing. This is a bad deal and hopefully the lame-duck Senate will not approve it.