You’ve got to admire Tom Steyer’s sense of drama. The hedge fund billionaire from California, who has lately turned his attention and fortune to politics, wrote an open letter to Democratic Senate candidate Stephen Lynch on Monday, worded gleefully, for maximum attention.
Reverse your support of the Keystone XL oil pipeline, it read, or issue binding proof that the crude oil it carries will stay in the United States. Do it by “high noon” on Friday, Steyer warned, or he will spend money to defeat Lynch in the primary against Keystone opponent Ed Markey.
Comments
What this article shows is that liberal venom directed at the Koch brothers is misplaced. Billionaires like George Soros and Warren Buffett are helping to create a crony capitalist state for Obama and his Chicago Gang.
What this article shows is nothing of the sort.
yes, please put attention on the arguments of the developers and opponents about Keystone specifically. It's not much of an argument. The proponents have the facts of the matter in this specific case on their side. Even if this doesn't get built, the Alberta oil is going to come to market either via rail cars as is happening now or through the use of existing gas pipleines from Western to Eastern Canada where it will then be shipped to refineries in New Brunswick on rail cars then refined then shipped by tanker to the Northeastern US as refined gasoline currently is. Thus, driving the price up slightly. No matter who gets elected to this Senate seat, unless the US opts out of NAFTA (it's not going to), then this will come to pass. Even if it somehow doesn't, there is the Northern Gateway project under consideration that will take this resource and sell it to Asia via a pipeline across Alberta and BC. I can't wait for the spectacle of an American billionaire who made a lot of money from companies in the coal extraction business in Indonesia going to Canada (or even better the PRC) and telling them not to develop this resource or else. That will make sure it does get built.
As for the broader issue of money in politics, all this kind of thing will do to the Democrats is what it did to the Republicans last year, empower specific individuals and move the chosen candidate further away from the middle of the electorate. Funding an effort that splits the Democratic Party might be the best thing that could be done to increase the Repubs shot of winning this seat marginal as it is.
I guess the left hates Citizens United only when it hurts them. Typical
The Globe writes an article about the Keystone Oil Pipeline after years of opposing the project or saying nothing about it at all.