One coal industry investor is attempting to oust Oakland, California, Mayor Sheng Thao, part of a yearslong battle over a proposed coal export terminal.
About 80 percent of funds raised in support of the recall effort have come directly from Philip Dreyfuss, a partner at San Francisco-based Farallon Capital Management, according to campaign finance reports. The hedge fund has invested $2 billion into coal interests in Australia.
American mining companies have for years worked to increase their ability to send their coal to ports throughout the Pacific Rim, but financial woes and environmentalists have succeeded in blocking several projects.
Dreyfuss’ motives in the Oakland race are unclear, but Thao released an open letter Wednesday calling attention to his ties to the coal industry.
