U.S. billionaire to pour $100 mln into climate change fight

[Judi Lynn]

Source: Reuters

U.S. billionaire to pour $100 mln into climate change fight
Source: Reuters - Thu, 20 Feb 2014 08:09 PM
By Valerie Volcovici

WASHINGTON, Feb 20 (Reuters) - A California hedge fund investor has pledged $100 million in contributions to pro-environmentalist congressional campaigns, bolstering the battle against climate change.

Billionaire Tom Steyer on Wednesday night hosted Senate Majority Leader Harry Reid of Nevada and six other Democratic lawmakers for a fundraiser at his San Francisco home and is planning an ad campaign for candidates who support tough action on climate change.

Steyer, founder of the hedge fund Farallon Capital, plans to spend $50 million of his own money and raise another $50 million from other donors for the November midterm elections.

His aim is to serve as a political counterweight to the conservative billionaire Koch brothers, who have already spent $30 million so far this year on attack ads targeting vulnerable Democratic senators who have supported the healthcare reform law popularly known as Obamacare.


Read more: http://www.trust.org/item/20140220195059-v853v/

[packman]

1. Money is now Involved

Watch the Repukes come out of the woodwork-Newt,Sarah,Sean, and Rush will want to be in on this. 100 Mil. vs. 30 Mil. - yah, they can smell the dollars from here.

[TrollBuster9090]

2. Wow! Finally a billionaire who cares about somebody besides himself!

This guy is awesome!

I'm so sick of Robber Barons who either made or inherited a fortune by feeding America's addiction to drugs (er...fossil fuels), and then add insult to injury by spending their spare pocket change to BUY POLITICIANS that will make policies that allow them to get even RICHER. (As if $100 billion isn't 'enough'...I'm looking at YOU, Charles and David Koch.) And who then say " I've got mine, Jack. SCREW any generation who comes after me, and inherits a wrecked planet."

This guy is great!

[Exultant Democracy]

3. $100 million chump change in the climate change fight.

What we need is a lot of rich people investing more then they can afford to lose in the clean energy industry. Only then will they fight as hard as the Koch brothers et al.

[bitchkitty]

6. Maybe this will inspire more rich people.

It might be chump change, but it's a start.

[dballance]

7. It's still $100 million more than zero.

Yes, in comparison to the hundreds of millions the Koch brothers are spending it may be a drop in the bucket but at least it's a drop.

[MindMover]

4. I sincerely hope this effort is not way tooo little and way toooooooo late ....

[bitchkitty]

5. My kind of billionaire! n/t

[Ikonoklast]

8. Finally, someone with money that care about the type of world his grandchildren will inherit.

The rest can't even see as far as the end of their noses, and care little for the future.

[Amonester]

9. Although it's good news, this should be the job of the world's governments ...

... and in order to finance the fight, all those 1-to-10% who own more than 3 billion people do, and thus can afford it easily, should be required to pay for it by being taxed fairly.

This fight for survival should not be left to voluntary will!