Why Billionaire Investor Tom Steyer Is Bullish On Clean Energy Under Trump [Forbes]
Exxon Mobil Corporation (XOM)
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Source: Forbes
By Alan Ohnsman , Forbes Staff P resident-elect Donald Trump pulled the U.S. out of the Paris Climate Accords in 2017, slowing global efforts to fight a climate crisis he's called a hoax, and has repeatedly promised to “drill baby drill” when he returns to office, claiming more production of planet-warming oil and gas will solve persistent inflation woes. But don't count out the clean power industry just yet. Billionaire investor Tom Steyer is betting that renewable power and the cleantech sector are going to be just fine, regardless of Trump's fixation on hydrocarbons. “Texas has tripled their solar in the last three years and is by far the biggest wind producer. Are they doing it because they like renewables or because they like money?” And he plans to continue to use the $1 billion his firm Galvanize Climate Solutions has raised and future investments to back companies with advantages in areas like cost-competitive low-carbon cement, ag technology that helps farmers
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