Rep. Lee Terry suggested Thursday that billionaire activist Tom Steyer’s opposition to the Keystone XL pipeline is fueled by concern for his bottom line, not for the environment.
“I am not sure that he is the most sincere guy,” Mr. Terry, Nebraska Republican, said on C-SPAN’s “Washington Journal,” alluding to various news reports of Mr. Steyer’s ties to a company that stands to gain from the project getting blocked.
Mr. Steyer reportedly once served as a senior partner to Farallon Capitol, which is invested in Kinder Morgan Energy Partners. The energy company has invested billions to expand its Trans-Mountain Pipeline System, which transports oil from Canada to the United States.
Investors.com and others have reported that Keystone XL pipeline, which would run from Canada-to-Texas, would compete with the Trans-Mountain pipeline.
“He is invested in his portfolio and the success of the pipeline in taking the tar sands, or oil sands, through pipelines and exporting it through Canada,” Mr. Terry said.