Aims of Donor Are Shadowed by Past in Coal
Given Mr. Steyer’s reputation as an active environmentalist, Australian opponents of the mine were startled to learn of his firm’s role as an early investor.
“It’s gobsmacking,” Philip Spark, president of the Northern Inland Council for the Environment, a nonprofit trying to stop construction of the mine, said in a telephone interview. “It’s amazing that such a person could have been involved in this project.”
Mark Carnegie, an investment banker in Australia who was involved in the Maules Creek deal, said he could sense even then that Mr. Steyer was struggling to reconcile his motivations as a profit-seeking investor with his growing anxieties about the environment.
But the investment was financially irresistible. “It was a hard thing to turn down,” Mr. Carnegie said. “It was a huge winning bet for Farallon.”
As for Steyer, and the catastrophic global warming fraud, they are both deserving of each other.