Monday, March 05, 2007

Ponzi Scheme Environmentalism

The current crop of Democratic candidates for the top of the greasy pole have the beautiful ability to keep any self respecting blogger in topics......well, indefinitely. And if you ever think that well is starting to dry up there are always candidates of days past such as the mysterious aluminum smelter known as Al Gore. Al Gore, who from the looks of things shouldn't be making documentaries (or should I call them docudramas?) but should instead be starring in remakes of Elmer Gantry.
Read BillHobbs.com below dear readers and weep for crying...


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. As Wikipedia explains, a carbon offset "is a service that tries to reduce the net carbon emissions of individuals or organizations indirectly, through proxies who reduce their emissions and/or increase their absorption of greenhouse gases."
(SNIP)
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:

Gore 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.

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