One name surfaces again and again in WikiLeaks’ email to expose the corrosive influence of the Greens’ “rich uncle,” hedge fund billionaire Tom Steyer. The eye-opening leaks show a pattern of Steyer wielding his fortune to bend Democratic politics in pursuit of his personal green energy agenda.
Steyer is attempting to force costly and unreliable forms of energy upon Americans. While the San Francisco tycoon can afford to double or even triple energy rates for his six homes, lower- and middle-class families cannot. Household electricity bills run about 40 percent higher than the national average in California, thanks to policies championed by Steyer. In fact, 1 million Golden State households now live in “Green Energy Poverty,” paying 10 percent or more of their income on home energy costs alone.
“We believe that there is too much emphasis on money in politics,” Steyer declared in July. If his words sounded disingenuous then, the new disclosures confirm him to be the year’s most outrageous hypocrite.
Steyer boasts of his commitment to economic and racial justice, yet Politico reminds us this week that, as the hedge fund manager of Farrallon Capital Management, Steyer invested heavily in America’s largest private prison corporation. For-profit prisons have been roundly criticized for their treatment and over-representation of minorities and the economically disadvantaged. It’s already well known that Steyer invested in overseas coal production under appalling environmental conditions.
So we know how Steyer made his billions, but, thanks to WikiLeaks, we’re gaining a better understanding of how he uses his vast fortune to exert undue influence in Democratic circles.