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Gore Buys Carbon Credit From His Company

From the the Wall Street Journal’s Opinion Journal:


The Color of Money

BY JAMES TARANTO
Thursday, March 1, 2007 2:40 p.m. EST

Tennessee blogger Bill Hobbs picks up the story of Al Gore’s voracious household energy use, which we noted Tuesday:

The Tennessean reported that Gore buys “carbon offsets” to compensate for his home’s use of energy from carbon-based fuels. AsWikipediaexplains, 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.” . . .

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. . . .

Meanwhile, Gore runs around the country and the world trumpeting “climate crisis” and blaming man’s use of carbon-based energy–burning thousands of gallons of jet fuel as he goes. His efforts have served to put climate change at the top of the national and even global agenda, driving up the value of the stocks and companies viewed as “green” or environmentally friendly. Companies like those his investment management firm invest his own and other peoples’ [sic] money in. (You can see a list of Generation Investment Management’s holdings here, courtesy of the U.S. Securities & Exchange Commission.)

Why is it left to think tanks and bloggers to investigate and expose all this? Why aren’t the mainstream media all over the story? Could it be . . . bias?

As usual, Mr. Taranto asks good questions.

Why didn’t our watchdog media research this? The company has been around since 2004.

Nobody noticed?

This article was posted by Steve Gilbert on Thursday, March 1st, 2007. Comments are currently closed.

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