Free Markets, Free People

The AGW Payoff For Al Gore

His supporters call him a visionary. His detractors call him a con artist.  One thing is certain though, the hype of AGW is making Al Gore a very rich man. And that alone should make people very skeptical of his “cause”.

Few people have been as vocal about the urgency of global warming and the need to reinvent the way the world produces and consumes energy. And few have put as much money behind their advocacy as Mr. Gore and are as well positioned to profit from this green transformation, if and when it comes.

Critics, mostly on the political right and among global warming skeptics, say Mr. Gore is poised to become the world’s first “carbon billionaire,” profiteering from government policies he supports that would direct billions of dollars to the business ventures he has invested in.

And, in fact, the NYT describes just such a venture that will now pay off for Gore and his partners. You remember those “smart grid” grants handed out a week or so ago?

The company, Silver Spring Networks, produces hardware and software to make the electricity grid more efficient. It came to Mr. Gore’s firm, Kleiner Perkins Caufield & Byers, one of Silicon Valley’s top venture capital providers, looking for $75 million to expand its partnerships with utilities seeking to install millions of so-called smart meters in homes and businesses.

Mr. Gore and his partners decided to back the company, and in gratitude Silver Spring retained him and John Doerr, another Kleiner Perkins partner, as unpaid corporate advisers.

The deal appeared to pay off in a big way last week, when the Energy Department announced $3.4 billion in smart grid grants. Of the total, more than $560 million went to utilities with which Silver Spring has contracts. Kleiner Perkins and its partners, including Mr. Gore, could recoup their investment many times over in coming years.

How very, uh, convenient. Anyone who doesn’t believe Gore’s connections inside government at very high levels isn’t paying off just isn’t paying attention. Gore has pushed AGW vigorously for years and until recently when the science he based his pitch on has been found seriously wanting, he’s pretty much had it his way. Governments around the globe swallowed it whole and the movement has grown into a veritable religion.

Gore’s reaction to the skepticism about his profiting off what many, myself included, consider a gigantic scam?

Mr. Gore says that he is simply putting his money where his mouth is.

“Do you think there is something wrong with being active in business in this country?” Mr. Gore said. “I am proud of it. I am proud of it.”

There’s absolutely nothing wrong with being active in business in this country, Mr. Gore – unless of course it’s the coal business or the lumber business or the nuclear energy business, or the oil business. Or for that matter the pharmaceutical business, health insurance business or financial sector. Then there’s the car business …

Well you get the idea. What Mr. Gore is actually proud of is creating a business that’s a politically popular one and stands to suck in untold piles of money based on a scam that would make Bernie Madoff green with envy. Because Al Gore has created and is engaged in a “legal” ripoff the size of which the world has never seen. Of course he’s “proud of it”.



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13 Responses to The AGW Payoff For Al Gore

  • Now, now!  I’m sure that, if he DOES make a lot of money from his “green” businesses, Algore will certainly donate every penny of profit and every bit of technology to help the rest of the world go green.  After all, he lives very modest life with a tiny carbon footprint, so he clearly believes in “walking the talk”.

    / sarc

  • AlGore freely admits his pyramid scheme is based on ERON-style accounting.
    While Einstein defined Stupidity is doing the same thing over, and expecting different results,
    Me-thinks Algore will attempt to time his pull-out, a little better than his predecessors.

    • And the difference between the ENRON scumbags and Al Gore is that Gore will be protected from any criminal prosecution by his political friends.

  • In some circles, this used to be called stock manipulation. Now it’s called altruism. Where can I get off this train?

  • All this was obvious when this story showed up some 20 months ago ..
    Al Gore’s next act: Planet-saving VC

  • I would like to see the Republicans get control of the House or Senate just so they could get an AGW hearing, subpoena Al Gore and force him to actually answer some questions.  It would be a lot of fun to watch.

  • Essentially what the judgment says is that a belief in man-made climate change and the alleged resulting moral imperative is capable of being a philosophical belief and is therefore protected by the 2003 religion or belief regulations.”

    It’s official now .. AGW is a religion .. at least in the UK

  • If an asteroid was heading to earth, you guys would advocate doing nothing… because it’s clearly not Anthropogenic Stellar Extinction.

    • but if there were no asteroid heading to earth and Al Gore or someone at NASA claimed there were, and made up facts, and made up some computer simulations, and claimed there was a nonexistant consensus, then you would be running around like chicken little waithing for the sky to fall.

    • Sure Tom, if the only ‘evidence’ of that asteroid was a computer model and it was being touted almost exclusively by one political ideology and the ‘solution’ happened to be economically crippling and a major shift in power to the state.

      • The problem with Gore profiting from this isn’t just that AGW is nonsense.  Gore is selling carbon offsets that, even if you believe in the religion of AGW, are a complete a total fraud.  We need a class action lawyer to sue Gore and his cronies for common law fraud (and perhaps securities fraud) for his misrepresentations regarding the benefits of “carbon offsets”.