POLITICS

Obama to raise money at mansion of billionaire who opposes pipeline most Americans want

By |
Politics,Beltway Confidential,Conn Carroll,Politics Digest

Billionaire Tom Steyer was born rich, went to Philips Exeter Academy before going to Yale for college and Stanford for business school. He then worked at Goldman Sachs under Robert Rubin before forming Farallon Capital Management, a $20 billion private equity firm. It’s safe to say he has never worried about having enough cash to pay fill up his car or worried where his next pay check will come from.

According to a new Pew Research Center poll, two-thirds of Americans, 66 percent, want the pipeline to built, while only 23 percent oppose it. But that has not stopped Steyer from being a major opponent of the Keystone XL pipeline, a project that would create thousands of jobs for middle-class Americans and lower gas prices for everyone.

Tomorrow, President Obama will be the guest of honor at Steyer’s Pacific Heights mansion where he will host a $5,000-per-person cocktail reception and a $32,500-per-person dinner to raise money for House Democrats. Last week, Steyer’s spokesman, Chris Lehane, released the following statement: “Tom is honored to be hosting the President at an event to support Congressional Democrats. Tom’s position on Keystone is well known and, given the urgency of climate change, is a position that he consistently expresses in public and private to anybody and everybody 24/7/365.”

Obama’s position on Keystone is less well known. In March he dodged House Republican questions about his support for the project and his Organizing for America sent out an email signaling he would oppose the project.

On March 1st, Obama’s own State Department released an Environmental Impact Statement on the Keystone project finding it would have no impact on climate change but would create 48,000 new jobs.

View article comments Leave a comment