Tom Steyer, of the Impeach Trump campaign announced his run for President today.
Steyer a self proclaimed environmentalist has criticized Trump on his environmental policies, is a bit of a hypocrite in that he made his money in the coal industry. According to Reuters, " His in-your-face tactics have made him fierce enemies on the right who accuse him of hypocrisy and claim that he made much of his fortune through investments in fossil fuel energy at Farallon Capital Management, the San Francisco-based hedge fund he founded in 1986."
"During Steyer’s tenure, Farallon helped finance coal project acquisitions in Indonesia and Australia valued at more than $2 billion and covering some of the region’s biggest mines, some of which swiftly ramped up production afterward, according to a close examination by Reuters of company disclosures and interviews with people involved in the deals."
There have been reports that Steyer through his investments may have been implicated in the Panama papers, as the Washington Free Beacon Reports, "Billionaire Democratic donor Tom Steyer helped finance a company used by the family of China’s former head of state to park investments in overseas tax havens, leaked corporate documents reveal."
To sum up, this fossil fuel magnate, who opened up the fossil fuel energy sector across the globe, took the money from the investments he made to later campaign to make public policy to destroy such said investments. Like investing in a product making money from the product that you will later use to destroy the product. Manipulating the global market?
Where does his loyalty really lie? We will be following up on this as more information becomes available.
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