John Hinderaker at Power Line Blog has done a number of articles recently about Democrat mega-donor Tom Steyer. This is the link to one of those articles. Somehow the information in these articles has escaped the mainstream media, so if you don’t follow the alternative media, chances are this information is new to you.
Tom Steyer is an opponent of the Keystone Pipeline. He claims that his opposition is based on his principle of environmental concerns and that he is strongly opposed to any sort of fossil fuel. Okay. He is entitled to his opinion and principles. However, when you look a little closer, some questions crop up. Mr. Steyer is a major investor in Kinder Morgan, a company that is building a pipeline that will compete with the Keystone Pipeline. If you look even a little closer, you find out that Mr. Steyer made his fortune in coal.
Mr. Steyer has recently written a letter to the Middlebury College and Brown University Boards of Trustees stating that a coal free portfolio is a good investment strategy. That is very interesting considering that Mr. Steyer founded Farallon Capital Management L.L.C. (“Farallon”) in 1986.
The article at Power Line (linked above) reports:
In order to gain an appreciation of the extent of Farallon’s epic involvement in the coal sector under Mr. Steyer’s tenure one needs to spend time in Jakarta and Sydney, and in the regional financing centers in Hong Kong and Singapore, and speak to professionals (bankers, lawyers, mining consultants and principals) who were directly involved in these Farallon-sponsored coal transactions. With a modicum of effort one discovers that since 2003 Farallon has played the pivotal role in financing the tremendous restructuring and growth in thermal coal production in the region. All of this took place under Mr. Steyer’s tenure as founder and senior partner of Farallon.
YouTube posted a recent interview of John Hinderaker on the subject of Tom Steyer:
As usual, liberal principles don’t apply to liberals–they only apply to Republicans and conservatives.