News Article

MAJOR OIL INVESTOR INVESTS IN THERESA GREENFIELD

MAURO CALLS ON GREENFIELD TO RETURN CASH FROM MAJOR OIL, GAS, AND PUERTO RICAN VULTURE DEBT FUNDER

DEMOCRATIC SENATE CANDIDATE THERESA GREENFIELD HAS RECEIVED THOUSANDS OF DOLLARS FROM SETH KLARMAN, CEO OF BAUPOST GROUP

 

U.S. Senate Candidate Eddie Mauro called on Theresa Greenfield to return funds received from Seth Klarman, CEO of The Baupost Group:

“My campaign pledged to refuse all money from fossil fuel aligned companies, CEOs, and lobbyists because we need bold action on climate. We need a Green New Deal that recognizes the need to reach Net Zero emissions by 2030. Taking money from the Baupost Group, which is heavily invested in oil and gas, Puerto Rican vulture debt, and owned major shares in refineries receiving biofuel waivers through the Trump Administration is the very definition of hypocrisy. You can’t say you “Refuse Corporate PAC Money” and support action on climate, then turn around and raise thousands of dollars from employees and leaders of The Baupost Group. Iowans deserve better.”

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Theresa Greenfield has Received $11,200 in Contributions from Employees of the Baupost Group, including the Maximum $5,600 from CEO Seth Klarman
Open Secrets, Accessed May 5, 2020 and FEC Individual Contribution Reports https://www.opensecrets.org/races/contributors?cycle=2020&id=IAS2&spec=N

Debt Vultures Behind Puerto Rico Austerity Are Also Fueling Climate Change
DeSmog Blog, Saturday, November 11, 2017, https://www.desmogblog.com/2017/11/11/debt-vultures-behind-puerto-rico-austerity-are-also-fueling-climate-change
“Baupost also holds $1.8 billion of equity in oil and gas companies. At the end of the second quarter of 2017, oil and gas stocks made up 21% of Baupost’s equity portfolio, including more than $1 billion worth of stock in liquefied natural gas exporter Cheniere Energy. Other oil and gas equities held by Baupost include Antero Resources – $457.5 million – and PBF Energy – $350 million.”

Baupost Group Owned Major Stake, worth Billions, in PBF Oil Refining - a Major Recipient and Supporter of Trump Ethanol Blending Waivers and Opponent of Expansion of Renewable Fuels Standard to Benefit Ethanol and Biofuels
https://www.forbes.com/sites/gurufocus/2016/09/12/seth-klarman-keeps-pouring-money-into-this-oil-refining-company/#78c752086453
“Seth Klarman (Trades, Portfolio), a conservative investor who runs Boston-based Baupost Management, again added to his growing position PBF Energy (NYSE:PBF), the fourth-largest independent oil refiner in the U.S. – two spaces below Warren Buffett (Trades, Portfolio)’s refiner Phillips 66 (NYSE:PSX)”

U.S. refiners reap big rewards from EPA biofuel waivers

https://www.reuters.com/article/us-usa-biofuels-savings/u-s-refiners-reap-big-rewards-from-epa-biofuel-waivers-idUSKBN1I91ZG

Baupost Group Major Investors in PG&E, the California Electrical Utility, Made Millions Off Of Wildfires in California

https://www.marketwatch.com/story/seth-klarmans-baupost-is-set-to-make-millions-on-bets-tied-to-the-wildfires-that-bankrupted-pge-2019-09-13
“Seth Klarman’s hedge fund Baupost Group LLC is poised to rake in profits from the bankruptcy of PG&E Corp. under an $11 billion insurance settlement, the endgame of an investment strategy launched months in advance of the California utility’s bankruptcy.”