Tom Steyer, a San Francisco based hedge fund billionaire, has announced that he will rally the youth concerned about global warming to lead resistance against United States President Donald J. Trump. Incidentally, Steyer has made the biggest financial contribution in politics during the previous two election cycles. His contributions were totaled to be approximately $163 million. Other than financially supporting Democratic candidates, he financed a number of other liberal causes.
Steyer’s political stock rose after he contributed millions of dollars to oppose the Keystone XL pipeline. His activism against the environmentally destructive pipeline led to the formation of NextGen Climate Action, an activist group wholly created by him. The intention behind NextGen is to mobilize the young people. He will also support the candidates whose foremost priority is to fight global warming.
There is good reason for Steyer to change direction and attack the Trump administration. He has suffered two disappointing elections where progressives were defeated. The billionaire said that under the new regime, it will not be wise for liberals to regard the causes in isolation.
Politics is a possibility
Many political commentators, however, say that there can be more than which meets the eye. There is a distinct possibility that Steyer is trying to canvass more support to make a 2018 gubernatorial run. He could consider to participate in the elections so that he could replace Jerry Brown, the Governor of California. According to a news source, this could be Steyer’s “beyond climate” action. Whatever it is, his tries to make global warming a part to influence US government policy has not resulted in much concrete results. Even after spending a huge amount- around $86 million- during 2016 election cycle, Democrats lost. Republicans kept both chambers of Congress within their control. They also saw governorship and legislature gains. The GOP also won the presidency. If the campaign finance data is to be believed, NextGen spent approximately $56 million within 2016.
The company’s record in previous years was also dismal. After spending almost $21 million during the election cycle in 2014, NextGen could gather confidence of of only 38 percent when it came to supporting the winning candidates. As per Center for Responsive Politics, Steyer spent about $73 million of total personal fortune -only to see the GOP wrestling control of the Senate. The subject even never became a subject of political discussion with a meager two percent of Americans saying climate change is a real and tangible concern.