The Daily Caller reports:
Most of Steyer’s $1.4 billion fortune came through investments in fossil fuels. In fact, Steyer’s biggest cash cow is Farallon Capital Management. Farallon has stakes in a number of oil, gas and pipeline companies, including a large investment in Kinder Morgan, an oil and gas pipeline outfit that plans to expand its own TransMountain pipeline to transport oil from Alberta to refineries and shipping terminals in the U.S. and Canada.
While this year alone Steyer poured $1.8 million into a super PAC supporting anti-Keystone candidates and burned through another $1 million creating an advertising campaign attacking Keystone, he has refused to criticize the TransMountain pipeline – even though TransMountain pipeline is functionally identical to Keystone. That’s because if he succeeds in killing Keystone, TransMountain will be “the only game in town for transporting oil directly from the oil sands to export terminals, up to 900,000 barrels a day,” according to Investor’s Business Daily.