Wealthy Environmentalists Push Democrat Harry Reid to Lean-In to Green Energy
Democrats have decided to lean-in, not back-away, from so-called clean energy. Despite the embarrassing history of government-funded green-energy failures, “wealthy environmentalists are pushing Democrats to take bolder positions on climate change”—and global warming, as an issue, provides the impetus for more green-energy spending.
The Boston Globe reported on a recent “summit between Washington’s liberal elite and San Francisco’s climate intelligensia” that included “Senate majority leader Harry Reid, a Nevada Democrat, six other senators, and … Al Gore.” The Globe points to new efforts by Democrats to “make global warming a central issue during the midterms.”
Reid has, according to the Globe, “pledged to allot time to anyone who wants to discuss climate change at party lunches or on the Senate floor.” He needs to keep the ruse alive because he is connected to more than $3 billion in Energy Department green-energy deals that helped him get reelected in 2010—behavior that has earned him the moniker: “one of America’s most corrupt politicians.”
Senator Barbara Boxer (D-CA), along with Senator Sheldon Whitehouse (D-RI), has planned an all-night talkathon on the subject that will take place on Monday, March 10—about which Boxer said: “So many Senators coming together for an all-night session shows our commitment to wake up Congress to the dangers of climate change.” According to a press release from the Senate Committee on Environment and Public Works, 28 Senators will be participating—slightly more than one quarter of the Senate.
Apparently they don’t want to miss out on the $100 million in campaign cash the “wealthy environmentalists” have committed to cooperative candidates—while also “threatening to withhold money from candidates in swing states who support the Keystone oil pipeline.”
The Globe quotes Wade Randlett, a renewable energy entrepreneur who co-hosted the San Francisco fundraiser, as saying: “What was really energizing is everyone understood clean energy would be at the forefront of the Senate agenda. It wasn’t back-away; it was clearly lean-in.”
So, who are these “wealthy environmentalists,” who are driving the agenda and making powerful U.S. Senators jump like an organ grinder’s monkey to do their bidding? The answer is found in Christine Lakatos’ newest report for the Green Corruption Files: The dark, driving force behind the president’s massive green-energy scheme.
Since 2012, Lakatos and I have partnered to expose Obama’s green-energy crony-corruption scandal. She does the research and writes the thorough exposé on the chosen topic and, based on her work, I write the overview report and link to the Green Corruption File for those who want the full story. Our collaborative efforts have been cited by prominent commentators, such as Rush Limbaugh and Michelle Malkin, and referenced in many news stories.
Lakatos focuses on left-wing think tank, Center for American Progress (CAP) founded by John Podesta—who is now serving as White House counselor specializing in climate change issues. The Huffington Post (HP) says this about CAP and Podesta: “John Podesta probably is and has been the most important opinion leader for progressives in America in the last decade, certainly during the term of the Obama Administration, through his leadership of the Center for American Progress (CAP).” HP points out: CAP has “been a vocal voice for this president’s policies in the media and on the Hill. But their area of highest visibility is advocacy for a clean energy economy where John Podesta has personally led the effort.”
Podesta is the organ grinder from within the White House and progressive political platforms. Tom Steyer is now doing the same from outside Washington—leading “San Francisco’s climate intelligensia.”
Lakatos chronicles many key players with readily recognizable names who have connections to the Obama White House, CAP, and green energy projects. They include Lawrence Summers, Carol Browner, Steve Spinner, and Van Jones—as well as many others who have been heavily involved but have maintained a lower profile and corporate donors that are tied to tens of billions of green energy funds. However, in light of his recent political-influence reveal, Tom Steyer—CAP Board Member and donor, Obama bundler, and host of the recent “summit” (held on his 1800-acre ranch, with views of the Golden Gate Bridge)—is worthy of special attention.
Lakatos states: “Like most prominent Obama fundraisers, Steyer has enjoyed relatively easy access to the White House, and as of the summer of 2012, it was reported that he had met with senior White House officials in the West Wing on at least four occasions. Steyer was even handpicked to make a cameo appearance at the 2012 Democratic National Convention.”
Steyer founded and was the Senior Managing Member of Farallon Capital Management—until late 2012 when the firm’s partners bought out his “profit share.” His net worth is estimated to be $1.55 billion—some of which is reported to have been made through millions of dollars worth of shares his firm invested in big oil companies such as BP and pipeline company Kinder Morgan. Fox News reports: “He continues to have significant investments with Farallon, according to a spokesman, Steyer has directed the fund to ‘green’ his portfolio and divest him of all positions in oil and coal—including Kinder Morgan.”
Regarding his recent interest in California’s blooming green-technology industry, the New York Times (NYT) quoted Steyer as saying: “really what we’re fighting is self-interested dirty-energy companies.”
Having made billions through “dirty-energy companies,” Farallon Capital Management has been greening its portfolio. The NYT cites Steyer, when he was still with Farallon, as “the main financial backer of Greener Capital [now EFW Capital], a venture firm that invests in renewable energy start ups.” A 2012 Washington Free Beacon report points out some of Farallon’s other green-energy investments:
Farallon owns nearly $14 million worth of shares of Westport Innovations, the self-described “global leader in natural gas engines.” The Westport Carbon Project (WCP), according to its website, “was established to monetize the carbon emission reductions associated with the Westport HD engine, the Cummins Westport ISL G and other natural gas engines developed with our OEM partners. The WCP enables customers to earn annual carbon rebate cheques for the natural gas vehicles in their fleet as of January 1, 2010.”
Farallon also owns more than $8 million worth of shares of Fuel Systems Solutions, which according to its website “designs, manufactures and supplies proven, cost-effective alternative fuel components and systems for transportation and industrial applications. Its gaseous fuel technology for propane (LPG) and natural gas (CNG) generates savings, reduces emissions, and promotes energy independence.”
While a 2011 Forbes profile on Steyer quotes him as saying: “I am a true believer that we have to change the way we generate and consume energy in the United States,” it would also be easy to view his combined investment and politicking efforts as “self-interested,” as he does stand to profit from the polices he’s promoting.
Senator David Vitter (R-LA), in the Fox News story accuses Steyer of having financial interest in the death of a pipeline he opposes on environmental grounds. Vitter says: “I think it’s hypocrisy, quite frankly. Who knows when he's going to divest of these investments ... maybe in a few months when his helping kill Keystone will boost them up to top value. ... Who knows?”
According to Steyer spokesman Chris LeHane, “This divestment has been taking place consistent with the applicable legal requirements.”
Steyer calling traditional energy companies “self-interested” is like the presumed morally superior pot calling the proven economically superior kettle black. Perhaps he really is a “true believer.” If so, he should remove himself from any form of financial gain he can reap from his political activism and donations. But maybe, like I do, those self-interested oil companies truly believe that developing our own resources to provide all Americans with energy that is efficient, effective and economical is in America’s best interest.
The 2014 elections give Americans the opportunity to decide whether they side with the 28 Democrat Senators at Monday night’s sleepover who are dancing at the behest of the organ grinders—or if we want to learn from the mistakes of their failed green-energy projects only profiting the wealthy while robbing taxpayers, raising electricity rates and hurting the poor.
Do we lean-in or back-away?
[Originally posted at finance.townhall.com]