Is Billionaire Steyer Taking Aim at Obama’s Policy on Natural Gas?

Is San Francisco billionaire Tom Steyer really about to declare war on natural gas? Rumors are swirling in Colorado and Washington, DC that Tom Steyer is ready to side with Democrat Congressman Jared Polis of Boulder and national ban-fracking activists who are working to shut down Colorado’s booming natural gas industry. The WSJ today reports: “Tom Steyer, a hedge fund billionaire turned environmental activist, is also likely to help financially support Mr. Polis’s effort, according to three people close to the situation.” Yet doing so puts him squarely at odds with a growing bipartisan coalition in the state that supports the jobs and economic opportunities that come from natural gas development in Colorado. This move would also have huge impacts on the energy debate across the country. The revelation made in the Wall Street Journal is stunning for several reasons. First, it shows that Tom Steyer is ready to bankroll groups opposed to all fossil fuel development – including natural gas. Additionally, this position would seemingly put him at odds with Senator Mark Udall, an incumbent Democrat who calls himself “a champion of Colorado’s natural gas industry.” Steyer and his team have repeatedly said their number one goal is to ensure Democrats retain the majority in the United States Senate...more