Americans willing to look at the manmade global warming debate with any degree of impartiality and honesty are well aware that those spreading the hysteria have made a lot of money doing so, and stand to gain much more if governments mandate carbon dioxide emissions reductions. However, conceivably few are better positioned to financially benefit from this scam than former Vice President Al Gore, a fact that the mainstream media will surely not share with Americans any time soon.
Gore has built a Green money-making machine capable of eventually generating billions of dollars for investors, one of which is himself, but he set it up so that the average citizen can’t afford to play on Gore’s terms.
Gore helped found Generation Investment Management (GIM), through which he and others pay for carbon 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 GIM – he buys stocks.
Well, isn’t that special?
GIM appears to have considerable influence over the major carbon-credit trading firms that currently exist: the Chicago Climate Exchange (CCX) in the U.S. and the Carbon Neutral Company (CNC) in Great Britain. CCX is the only firm in the U.S. that claims to trade carbon credits.
Clearly, GIM is poised to cash in on carbon trading. The membership of CCX is currently voluntary. However, if the day ever comes when federal government regulations require greenhouse-gas emitters — and that’s almost everyone — to participate in cap-and-trade, then those who have created a market for the exchange of carbon credits are in a position to control the outcomes. And that moves Al Gore front and center.
Goldman Sachs has commissioned the World Resources Institute (affiliated with CCX), Resources for the Future, and the Woods Hole Research Center to research policy options for U.S. regulation of greenhouse gases. In 2006, Goldman Sachs provided research grants in this area totaling $2.3 million. The firm also has committed $1 billion to carbon-assets projects, a fancy term for projects that generate energy from sources other than oil and gas. In October 2006, Morgan Stanley committed to invest $3 billion in carbon-assets projects. Citigroup entered the emissions-trading market in May, and Bank of America got in on the action in June.
The former Vice President’s pals at the UN’s Intergovernmental Panel on Climate Change (IPCC) stand to gain by approving Gore’s carbon-trading enterprise. The IPCC has devised what it says is a scientific measure of the impact of greenhouse gases on global warming.
In June 2006, the World Bank announced that it, too, had joined CCX, saying that it intended to offset its greenhouse gas emissions by purchasing emission credits through CCX. The bank says its credits would contribute to restoring 4,600 hectares of degraded pastureland in Costa Rica. Somehow, CCX has figured out that this is an amount equivalent to 22,000 metric tons of emission that the bank calculates are created by its activities.
The World Bank now operates a Carbon Finance Unit that conducts research on how to develop and trade carbon credits. The bank works with Italy, the Netherlands, Denmark and Spain to set up carbon-credit funds in each country to purchase emission credits from firms for use in developing countries. In addition, it runs the Carbon Fund for Europe helping countries meet their Kyoto Protocol requirements. These funds are traded on the ECX (half of which is owned by CCX, itself a creature of Al Gore’s firm, GIM).
So, as Gore travels the world in his private jet while spending 20 times the average American on energy for his home, all the time telling us it’s okay because he’s buying carbon offsets, he’s actually purchasing these investments from himself.
Furthermore, and maybe more important, Gore stands to benefit financially in a potentially huge way if more and more people buy into the Global Warming scam. Al Gore really is perpetrating a scheme that could end up being much more costly to Americans than anything Ken Lay did at Enron. As if that’s not bad enough, our media are totally complicit rather than doing their jobs exposing the scam. And that wouldn’t have anything to do with companies (such as General Electric) that own major portions of the media (in GE’s case, can you say NBC, MSNBC, A&E, USA network, Bravo, the Weather Channel, and more) standing to make huge profits from “green energy” and cap and trade from their other divisions.
If Al Gore is successful with his schemes, Gore and his cronies are going to be much more “green” than most of the earth. That would be the green of major cash flow. And the only green in this for you and me is the kind that accompanies envy.
Meanwhile, a complacent media, operating with eyes tightly closed, actually promote Gore’s operations rather than hounding him over his financial conflicts of interest.