Tom Steyer pumps $21.9 million into Prop 39 to generate clean tech funds

It was a big week for Tom Steyer. First, the Co-Senior Managing Partner of Farallon Capital Management got to speak at the Democratic National Convention.

It was a rousing speech, designed to bolster Pres. Obama’s clean tech credentials:

“Now, I say all this not as the head of Greenpeace or the Sierra Club. I say it as the head of an investment firm that has spent the last quarter-century crunching the numbers and making the tough calls. President Obama knows that advanced energy is America’s future. And my bet, as a business man, is that he’s exactly right.”

Watch his convention speech here:

Two years ago, Steyer spent millions fighting Prop. 23, the oil-industry backed prop aimed at overturning California’s environmental legislation. The prop went down in flames.

Now, Steyer is back in action. According to MapLight, Steyer has spent $21.9 million to back Prop 39. While complex, Prop 39 seeks to change the way corporations calculate their taxes, and in the process, generate an extra $1 billion in tax revenue.

According to MapLight, Prop 39:

“Dedicates $550 million annually for five years from anticipated increase in revenue for the purpose of funding projects that create energy efficiency and clean energy jobs in California.

Here’s Steyer being interviewed on Current TV by Lt. Gov. Gavin Newsome:

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  • Earl Richards

    Big Oil, Wall Street and the GOP are a bunch of morally, bankrupt jerks. Romney is already oil-bought. Romney/Ryan will be worse than Bush/Cheney. Romney is an offshore, tax cheat. Google the “$2.5 Trillion Oil Scam – slideshare” and google the “Global Oil Scam.” The US is a victim of this scam. Purchase electric cars and solar panels.

  • Hans Roth

    This guy made his fortune in hedge funds. He says ” financially he is in the same level as Romney”. Wrong, Romney is worth 256 mllion while Steyer is worth 1.3 billion. He just put 21.9 million into ballot measure 39 to promote green energy jobs, etc. Green energy is fine if you can afford it. Guess who will benefit most from the passage of prop 39? Farallon Capital Management, LLC where he is a top executive. He who has the gold has the influence. Just more greed from the uber wealthy.