Thursday, May 22, 2014

Billionaire Hedge Funder Tom Steyer to Target Seven Midterm Election Races

From Reuters:
Billionaire environmental activist Tom Steyer will give a boost to 2014 political candidates from seven U.S. states who work to combat climate change, countering political support from fossil fuel interests.

NextGen Climate, Steyer's political group, said Thursday it would back candidates in Colorado, Florida, Iowa, Michigan, Maine, New Hampshire and Pennsylvania who face challenges from opponents who either doubt that humans cause climate change or receive donations from the fossil fuel industry.

NextGen said it would use climate change as a "wedge issue" to drum up voter turnout and to show that taking an anti-science position can hurt rather than help political candidates.

"The debate on climate change is settled," Steyer said. "It is here, it is human-caused, and it is already having a devastating impact on our communities, but we need to accelerate the level of political support to address this critical issue before it's too late."

Steyer said earlier this year that he planned to put $50 million of his own funds toward backing candidates in the November elections who support action on climate change. He said he also hoped to mobilize like-minded donors to match that amount.

A self-styled counterweight to libertarian megadonors Charles and David Koch, Steyer has quickly become a major force in U.S. politics....MORE

Steyer has another dealie-o called The Risky Business Initiative that he founded with Michael Bloomberg and former Goldman head (and less powerfully, Treasury Sec.) Hank Paulson.

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