Tuesday, December 16, 2014

Top California Dems and climate change billionaire planning coal divestment scheme

Coal for power plant, Escanaba, Michigan
The values of the Democratic Party are heading further outside of the mainstream. And like many chilly ideas, the source is California.

From SFGate.com:
With Republicans threatening to shove climate change to the back seat as they take control of the U.S. Senate, state officials including Gov. Jerry Brown huddled with one of the nation’s leading Democratic donors Monday to talk up ways to keep it on California's agenda — including legislation that could send a shiver through the coal industry.

The state Senate's top leader said at an Oakland forum organized by billionaire environmental activist Tom Steyer that he's planning to introduce a measure next year to require the state's public-employee pension funds to sell their coal-related investments.

"Climate change is the top priority of the California state Senate," said Senate President Pro Tem Kevin de León, D-Los Angeles. He said his legislation would require that the California Public Employees Retirement System, which manages public employees’ pensions and health benefits, and the California State Teachers Retirement System divest millions of dollars in coal-related investments.

"Coal is a dirty fossil fuel, and we generate very little electricity in California from coal," de León said. "And I think our values should shift in California."
Steyer somehow became a billionaire even though he was foolish enough to throw away $76 million of his own money to make global warming a major issue in the midterms.

Keep spending money, Steyer.

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