Friday, March 2, 2007

Al Gore’s Personal “Inconvenient Truth” Part II

Mad props to Bill Hobbes for these interesting developments:

As the controversy over global warming doomsayer Al Gore's voracious energy-eater mansion rolls on, there's an angle I think merits deeper investigation than it is currently getting. While much of the focus has been on whether or not Gore is an environmental hypocrite, the story has raised the profile of the role of "carbon offsets" in achieving a "greener," more environmentally friendly world.

In its original story, The Tennessean reported that Gore buys "carbon offsets" to compensate for his home's use of energy from carbon-based fuels.


So far, so good. But how Gore buys his "carbon offsets," as revealed by The Tennessean raises serious questions. According to the newspaper's report, Gore buys his carbon offsets through Generation Investment Management:

Come, Mr. Tally Man, tally me banana. Daylight come and we wanna go homeGore helped found Generation Investment Management, through which he and others pay for offsets. The firm invests the money in solar, wind and other projects that reduce energy consumption around the globe...

Gore is chairman of the firm and, presumably, draws an income or will make money as its investments prosper. In other words, he "buys" his "carbon offsets" from himself, through a transaction designed to boost his own investments and return a profit to himself. To be blunt, Gore doesn't buy "carbon offsets" through Generation Investment Management - he buys stocks.

And this:
Al Gore claims to buy "carbon offsets" from a firm, Generation Investment Management, which he co-founded and serves as chairman. If you visit the firm's website, you will find no mention of carbon offsets . If Generation Investment Management sells them, they don't say so publicly.

So, what does Generation Investment Management do?

... what Generation Investment Management really does is manages investments in a portfolio of companies the list of which doesn't seem particularly "green."

If this story pans out, then Gore is a bigger hypocrite than we thought.

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