Thursday, September 12, 2013

KXL: When you've lost the hedge fund billionaires...

... you probably deserve to lose.

Unexpected environmental activism coming from the one percent: Billionaire investor Tom Steyer said he is backing a four-part, $1 million advertising campaign aimed at convincing viewers the Keystone XL pipeline will hurt the economy and communities and should be blocked. See his first ad above.

“Foreign countries will get more access to more oil to make more products to sell back to us, undercutting our economy,” Steyer, founder of the hedge fund Farallon Capital Management LLC, says in the advertisement. “Here’s the truth: Keystone oil will travel through America not to America.”

The evidence against this boondoggle just keeps piling up.  Maybe a 1%er has the clout to cut through the BS and make the case that the president needs to hear (and support).

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