The epic hypocrisy of Tom Steyer (flashback)

Powerline ^ | April 20, 2014 | By John Hinderaker

[Brad from Tennessee]

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. 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. That is a ridiculous claim: Steyer is the ultimate rent-seeker who 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 Steyer’s hypocrisy goes still deeper. Today, he is a bitter opponent of fossil fuels, especially coal. 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 has been one of the world’s largest financers of coal projects. Tom Steyer was for coal before he was against it. . .

[GOPJ]

Billionaire liberal elites imagine themselves to be philosopher kings, when in fact they're just looking out for themselves like Tom Steyer's doing here.

The Clinton's give 5 million dollar speeches to Arabs... so they can ‘donate’ the money to the foundation that will ‘hire’ both of them for millions a year when they retire.

And the MSM buys it because they're all liberals...

[ExCTCitizen]

Tom Steyer is another proof that the rich is Liberal...

[KC_Conspirator]

But Steyer’s hypocrisy goes still deeper. Today, he is a bitter opponent of fossil fuels, especially coal. 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 has been one of the world’s largest financers of coal projects. Tom Steyer was for coal before he was against it.

This article is so right on. The K Street law firms and lobbying firms talk about this all the time about how Steyer made his money, and is now making money by blocking coal and the Keystone pipeline.