A billionaire hedge fund manager is funding efforts to stop the Keystone XL Pipeline project, says Drew Johnson, a senior fellow at the Taxpayers Protection Alliance.
Johnson said that Tom Steyer, a climate-change activist and partner in the $8 billion private equity firm Hellman & Friedman, is bankrolling the anti-pipeline movement.
"He's one of the richer guys in the United States," Johnson told "The Steve Malzberg Show" on Newsmax TV.
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"He claims that it's for environmental reasons . . . But it's actually some business reasons," Johnson said Monday.
He said building the pipeline would mean tens of thousands of jobs for Americans as well as cheaper electricity.
"And probably most important, really, is the fact that we'd be getting a lot of our oil domestically and from Canada rather than from unfriendly nations," he said.
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