Richard Verstegan 5 a.m., March 12
- Community Blog
- I've Got Issues
Prop 39 backer has millions invested in dirty coal, big oil, nuclear, and hydraulic fracking tech
The supposed green billionaire hedge-fund manager philanthropist Tom Steyer is at it again trying to buy an election for his personal profit. Steyer backed a "No on 23" campaign in 2010 along with an executive of Haliburton that would have suspended California's Cap and Trade (which has nothing to do with the environment and everything to do with gaming the market when you examine it) and hurt his energy investments that would be subsidized by California Cap and Trade.
Look at what Calwatchdog.org discovered about Steyer's investments in 2010....
According to Wayne Lusvardi at CalWatchdog.org:
"So-called powerhouse Democratic donor Tom Steyer, who has donated $5 million to defeat Prop 23, which would suspend green power in California, runs an investment firm that holds stock in “dirty coal” and nuclear plants, oil and gas companies in Texas, Oklahoma and Louisiana."
"Steyer’s firm, Farallon Capital Management Company, also is an external fund manager for CalPERS."
"Until now California’s mainstream media have failed to reveal what the economic interests of the NO on 23 donors and high profile supporters are. It ends up that the major backer of NO on Prop 23 manages a portfolio of “dirty energy and nuke” stocks, mainly for colleges and CalPERS".
According to the June 30, 2010, Form F-13 Filing with the Federal Securities and Exchange Commission (SEC) for Tom Steyer’s Farallon Capital Management Company, the firm is holding the following energy stocks in its portfolio:
Farallon also holds stock in NRG Energy that provides energy from “clean” solar, wind, biomass, nuclear, coal (yes “Dirty Coal”) plants in Texas, Louisiana, California, and in the State of Arizona
Steyer’s Farallon Company holds Ram Energy Resources, an oil and natural gas company in Texas, Louisiana, and Oklahoma.
Sandridge Energy is an Oklahoma City based company dealing in oil and natural gas as well as the treatment and transportation of C02 (carbon sequestration).
Tom Steyer recruited Republican George P. Schultz, former U.S. Secretary of the Treasury, State, Labor, and Director of the Office of Management and Budget under Republican administrations, to help the No On 23 campaign. Interestingly, Schultz was on the advisory board of the Precourt Energy Efficiency Institute at Stanford that is partly funded by Tom Steyer’s Tom Kat Center for Sustainable Energy.
Precourt Energy Efficiency Institute was founded by Jay Precourt, formerly of Halliburton who runs Scissor Tail Energy, a natural gas pipeline company headquarter in Tulsa, Oklahoma.
How much more evidence do you need that Steyer doesn't give a damn about the environment?