Tom Steyer opposes, and will stop, the TransCanada Keystone XL pipeline because his Farallon Capital Management owns Kinder Morgan, which is pushing to expand a pipeline from Alberta to Vancouver; Nexen, one of Calgary’s largest energy companies; and Potash Corp., the Saskatchewan mining giant. Farallon owns stakes in CB&I, a leading pipeline and oil platform manufacturer, and Union Pacific, one of many railroads moving more and more oil with existing pipelines full. Farallon also still holds stock in BP.
He's just a crony capitalist (Fascist) using the government to eliminate competition, and supply China with cheap oil at the same time.