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March 4, 2007

Does Al Gore Dream Of Becoming The World's Global-Warming Junk Bond King ? (Updated)

First Gore invented the Internet. Is he now working on global warming junk bonds? More just keeps coming out of the blogosphere about Al Gore's "carbon neutral" lifestyle being more publicity stunt and money making machine than a way of life for us mere mortals not privy to benefiting from the great Gore "green" delusion? (It turns out that there's much more to Gore's GREEN machine than the color of a little MONEY - it's the color of LOTS of money)

If you're wondering what the connection is between Al Gore, carbon offsets, Generation Investment Management, the notorious junk-bond king Michael Milken, and Tony Coelho - the disgraced former campaign manager for Gore, well, Doug Ross has some ideas to ponder:

... the Gore-to-Coelho-to-Milken connection smells of rot. When "carbon offsets" are put into the context of a Drexel Burnham Lambert operation, I get the whiff of a high-class junk bond scam, but updated for the 21st century.

Just as Milken's Drexel made the market for junk bonds, Gore's GIM makes the market for "carbon offsets". And the value of said offsets could be, like junk bonds once were, easily swayed using the standard tools of mass hysteria. These include movies like An Inconvenient Truth, books, and panic-inducing newspaper articles.

Many questions come to mind. Is this Gore's attempt at a Drexel-style operation that literally mints money? Why was GIM founded in the U.K.? Did it have to do with the scrutiny the SEC applies to U.S.-based companies? I need to rent Boiler Room to refresh my memory.

No matter what, there's little doubt that Gore stands to profit handsomely, as Milken once did, with carbon offsets. But I prefer to call them global-warming junk bonds; that sounds more accurate to me.

Related: How Gore's massive energy consumption saves the world - "... the other day the Rev. Al Gore declared that "climate change" was "the most important moral, ethical, spiritual and political issue humankind has ever faced.'' Ever. I believe that was the same day it was revealed that George W. Bush's ranch in Texas is more environmentally friendly than the Gore mansion in Tennessee. According to the Nashville Electric Service, the Eco-Messiah's house uses 20 times more electricity than the average American home. The average household consumes 10,656 kilowatt-hours. In 2006, the Gores wolfed down nearly 221,000 kilowatt-hours."

Update: Dan Riehl says, "Global Warming is only the beginning, albeit a critically important one":

If Gore has his way, if we alter our economics to address his over-heated fear of Global Warming, we will be walking on the very path Gore and Soros and whomever else wants, while putting money in their pockets to fund their agenda. It's a path to the ruination of a free America, not some cure.

Cross posted from Hyscience

Posted by Richard at March 4, 2007 9:46 AM