Gore's 'Carbon Offsets' Paid to Firm He Owns(Well now, isn't that special.)
World Net Daily ^ | March 2, 2007 | staff
Posted on 03/03/2007 9:52:00 AM EST by kellynla
http://www.freerepublic.com/focus/f-news/1794519/posts?page=176#176
Al Gore defends his extraordinary personal energy usage by telling critics he maintains a "carbon neutral" lifestyle by buying "carbon offsets," but the company that receives his payments turns out to be partly owned and chaired by the former vice president himself.
Gore has built a "green money-making machine capable of eventually generating billions of dollars for investors, including himself, but he set it up so that the average Joe can't afford to play on Gore's terms," writes blogger Dan Riehl.
Gore has described the lifestyle he and his wife Tipper live as "carbon neutral," meaning he tries to offset any energy usage, including plane flights and car trips, by "purchasing verifiable reductions in CO2 elsewhere."
But it turns out he pays for his extra-large carbon footprint through
Generation Investment Management, a London-based company with offices in Washington, D.C., for which he serves as chairman. The company was established to take financial advantage of new technologies and solutions related to combating "global warming," reports blogger Bill Hobbs.
Looks like WorldNetDaily may need to revisit this story. GIM appears to be a hedge fund that invests in "green" companies. Al Gore supposedly sends them money to invest, like a mutual fund. This mean Gore earns a return, and is free to withdraw his funds whenever he would like. He is not "buying carbon offsets" through GIM. He is allowing his money to be invested in companies that are doing things to supposedly reduce greenhouse emissions. It's still Gore's money, as it would be for any other investor.
