Though many have commented on this already, it is important to note just what a flop Tom Steyer’s massive contributions were to last week’s midterms. The FT:
In a striking defeat, Tom Steyer, a former hedge fund manager, spent at least $57m to promote action on climate change, but saw his ambitions scuttled by voters’ economic unease and a fossil-fuel industry that blamed stagnant wages on environmental red tape.
Not even that amount of cash could move the public.We have said it before and we will ay it again: the chief obstacle to more effective climate policy in the United States isn’t ill-founded climate skepticism. It is well founded policy skepticism. Greens are right that we have a problem, but their policy prescriptions are impractical and poorly grounded. Taken as a whole, the green movement operates on emotion rather than reason, rejecting science when it doesn’t like what science says (on nuclear power and GMOs, for example), and allowing itself to be manipulated by crony capitalists and lobbyists (like the ethanol lobby) who seek to turn public concern over climate into lucrative subsidy regimes for inefficient producers.The public trusts scientists, though it understands that science is in a constant state of flux as new information comes in. But it doesn’t trust greens. People who care about climate and more broadly about the impact of humanity on the planet that supports us, need to move beyond the current synthesis of Malthusian panic, leftist fear of capitalism, and nostalgia for a pre-industrial world that currently informs green policy thinking if humanity if they want to make a positive difference. That, unfortunately, is unlikely to happen, and many a green billionaire will be throwing his money away as the green movement continues to flail and fail.