Billionaire Environmentalist Tom Steyer Really is Running for President

Tom Steyer, a billionaire environmentalist, and Donald Trump foe pledged $100 million to replace President Trump in a campaign that attacks corporate influence in Washington. The Washington Times explains:

“Billionaire environmental activist Tom Steyer on Tuesday jumped into the race for the 2020 Democratic presidential nomination, after saying in January that he wasn’t planning to make a run for the White House.

“Mr. Steyer’s team said his campaign will focus on fixing two major ‘crises’ — reforming a ‘broken political system” and ‘saving our planet from the ravages of climate change.’”

That’s pretty bold talk for a billionaire who made his fortune in coal. A five-year-old Reuters story provides a background on the plutocrat environmentalist:

“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.

“Steyer, 56, stepped down as co-managing partner of Farallon in 2012 to devote himself to full-time activism because, as he later wrote, he ‘no longer felt comfortable being at a firm that was invested in every single sector of the global economy, including tar sands and oil.’”

As it turns out, much of Farallon’s investments have been in coal plays on the other side of the Pacific Rim.

“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.

“While Farallon has not made public its shares in these deals, sources familiar with the fund’s dealings say they amounted to at least several hundred million dollars.”

Steyer, with his bottomless campaign war chest, cannot help but shake up an already shaky Democratic presidential race. However, it is unclear where on the political spectrum he will land on. Will he be more of the left but not as crazy as the other folk’s wing now occupied solely by the faltering Joe Biden. Or will he pivot left and try to crowd out Bernie Sanders, Kamala Harris, and Elizabeth Warren?

Also, the question arises, is Steyer really running for president or is this an ego trip being embarked on to tout his favorite issues. Steyer has been a funder behind the scenes in previous elections and has been running a campaign to impeach President Trump. A clue may be whether or not Steyer takes on other issues besides extreme environmentalism and the corporate influence in politics.

The other Democrats will likely not welcome Steyer, despite his environmentalist and anti-Trump bona fides. His campaign smacks of Steyer trying to buy an election out from under the 24 or so who are working for the nomination.

Steyer is also vulnerable due to his past as a fossil fuel baron. To be sure, he claims to have experienced a road to Damascus moment and has now eschewed all of that filthy fuel. However, one would expect that a capitalist who has rejected fossil fuels should start investing in renewable energy. Steyer, however, has used the political approach to try to increase the share of renewable energy in the United States, with mixed success. A proposition Steyer sponsored in Arizona to increase that state’s share of renewable energy was rejected soundly by the voters, who had concluded that it would hike utility prices. However, two Michigan utility companies caved to Steyer’s pressure and vowed to increase their share of renewables to 25 percent by 2030.

Even so, it is unclear whether Steyer’s deep pockets will translate into votes. Every other Democratic candidate is an environmental zealot, so one would wonder what makes him different?

Ah, the gentle reader may note, another billionaire ran for president in 2016. Does one wonder what happened to him?

Trump’s success had more to do with an outsized personality and a message that fit nearly with public discontent with the political swamp than his billions, though being rich did not hurt. Steyer doesn’t have a personality and it is unclear that a version of the Green New Deal is going to be a political winner. However, Steyer’s leap into the political pool will be nothing if not entertaining.

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  130. The planet earth has been gradually warming for 20,000 years (since the peak of the most recent ice age). This cannot be attributed to mankind. The fossil record demonstrates this repeatedly. If you want to get people to support confiscation of their wealth, to accept a diminished economic posture, and surrender their individual freedoms, you have to promote the idea of a looming catastrophe. Viola! Climate Change (Manmade Global Warming In disguise). Every model they use over estimates the warming and still “fudges” the numbers to do it. A lie: is a lie, is a lie, is a lie. Even if it is promoted by a billionaire who made his money investing in fossil fuels.

  131. Mr Egomanic (Steyer) who hates Trump more then most is trying to grow some balls at this Countrys cost. He is truly insane and wants to blow his entire fortune earned on the backs of poorly paid workers and fracking is now playing with the entire Countrys well being because of his wants and desires. If any of you saw this so called mans hate ads during the 2016 campaign, you would know how vile and evil he is. The only agenda he has is to destroy our President, he does not care about anything else. He has no other agenda and will destroy everything to get it done. I don’t know what kind of ridiculous promises this creature will make, but whatever they are you can be sure they will be unfounded, unwarranted and impossible to fulfill. He is as dangerous as all the rest without an agenda other then a single motive to destroy our President and that is very chilling.

  132. Steyer is obnoxious and so are his ads. He’s going to spend a lot of money for nothing as he has already. He’s still a loser in my book.

  133. As a climate change loon, who believes in fake evidence and computer models which have been wrong for the last 15 years, I think Mr. Styer ought to re evaluate his position. Climate change freaks are only interested in one thing: Wealth re distribution. Take it from the people and put it into their pockets. No way would I vote for this guy, nor would I vote for any other democrat because they have proven to be power crazy leftists with a genuine desire to DICTATE their policies to the American people. Lying, greedy, power hungry, SOBs all!

  134. Run Richard Cranium Run. Should be funny to see the four morons in the House side with you. Let’s see how many more idiots we have that will support you.

  135. All Democratic Socialist should be branded as Traitors to Republic of the United States of America and be outlawed.

  136. Being a ‘billionaire’, you would think he could access REAL climate stats and conclude that ‘climate change’ is a farce invented by Al Gore in order to sell ‘carbon credits’ from a company HE owns stock in.

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