Why Obama won’t ok Keystone

Tom Stier is a hedge fund manager (Hedge funds are made available only to certain sophisticated or accredited investors and cannot be offered or sold to the general public. As such, they generally avoid direct regulatory oversight, bypass licensing requirements applicable to investment companies, and operate with greater flexibility than mutual funds and other investment funds. Hedge funds have existed for many decades, but have become increasingly popular in recent years, growing to be one of the world’s major investment vehicles and sources of capital).

Tom Stier has offered up to $100 million to Democratic candidates for federal office House and Senate who will oppose the Keystone XL pipeline. He has said to Obama about plans for his presidential library to be built in Illinois, for $750 million. Stiers said he will put a lot of money into that and get a lot of his friends in San Francisco’s tech business and finance businesses to give a lot of money to make the presidential library happen. However, if you dare approve the Keystone XL pipeline, I’ll make sure that I and my friends don’t give a dime to the library building fund.

Stier is also one these guys on the left who has been denouncing the influence of the Koch brothers. The hypocrisy part is that much of his fortune is based on the fact that he got a lot of wealthy investors in a hedge fund into coal mining stocks. 28% of electricity generated in this country is by plants that were financed is by Mr. Stier and his group at Farallon Capital Management, LLC (named after the islands off the coast of San Francisco).

He made billions and now he is investing in solar energy, and the government has to subsidize solar which will allow Stier to make millions more off the American taxpayers.

obama_library

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