Skip to comments.Gore's Dual Role: Advocate and Investor (2009, Goldman connections)
Posted on 04/26/2010 4:47:23 PM PDT by Brad from Tennessee
WASHINGTON Former Vice President Al Gore thought he had spotted a winner last year when a small California firm sought financing for an energy-saving technology from the venture capital firm where Mr. Gore is a partner.
The company, Silver Spring Networks, produces hardware and software to make the electricity grid more efficient. It came to Mr. Gores firm, Kleiner Perkins Caufield & Byers, one of Silicon Valleys 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. . .
(Excerpt) Read more at nytimes.com ...
Algore the Snake Oil salesman.
Here comes the next bubble -- carbon trading
Forget CDOs and other inventions of the great credit bubble. Thats all old hat.
Investment bankers are moving on to an area of securities trading that is potentially even
more lucrative, and whats more, even has a social value saving the planet.
.According to Mr Schapiro, carbon trading is now the fastest growing commodities
market on earth. Since Kyoto signatories bought in to the cap and trade concept in 2005,
there have been more than $300bn carbon transactions, prompting several investment
banks, including Goldman Sachs and Barclays, to set up their own carbon trading desks.
But thats just the start. If President Obama and his supporters can institute a cap-and-
trade system in the United States and thats a big if for this increasingly marooned
presidency demand could explode into a $2 to $3 trillion market.
And heres the great thing about it. Unlike traditional commodities markets, which will
eventually involve delivery to someone in physical form, the carbon market is based on
lack of delivery of an invisible substance to no-one. Since the market revolves around
creating carbon credits, or finding carbon reduction projects whose benefits can then be
sold to those with a surplus of emissions, it is entirely intangible.
Carbon developers, many of them employed by large multinationals, travel the world
in search of carbon reduction projects to sell, while firms of carbon accountants have been
established to verify on the United Nations behalf that those reductions are real.
The whole thing, though well intentioned, looks wide open to abuse and scams.
“Barack Obama is the Biggest Failure Since New Coke...”
I have a water free urinal too. It’s a tree in my back yard.
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