Clinton Debuts $1B Renewable-Energy Fund

Fox News ^ | 9/22/2006 | Nahal Toosi

[Uncledave]

Friday, September 22, 2006

By NAHAL TOOSI, Associated Press Writer

NEW YORK — Former President Clinton announced the launch of an investment fund expected to raise more than $1 billion for renewable energy on Friday, the final day of his global issues conference.

The Green Fund would focus on reducing dependence on fossil fuels, creating jobs, lessening pollution and helping to reduce global warming, all while making a profit, Clinton said.

The announcement at the Global Initiative Conference came a day after British business mogul Richard Branson pledged $3 billion to battle global warming,

"The earth is warming at an alarming rate, we are running out of fossil fuels, and it is long past time for us to take action to correct these problems,"Clinton said in a statement.

The fund's launch was announced by Clinton, former World Bank President James D. Wolfensohn, Vinod Khosla of Khosla Ventures, Yucaipa Companies founder Ron Burkle and business leader and philanthropist Steve Bing. Wolfensohn will serve as the fund's managing director.

The three-day initiative, which debuted last year, is an annual gathering of business, political and nonprofit leaders that requires participants to make financial or other commitments to help solve global problems. Sen. Hillary Rodham Clinton, the wife of the former president and a potential 2008 presidential candidate, attended Friday's session.

Some 150 other commitments amounting to nearly $3 billion also were promised to tackle causes ranging from improving health care in rural China to promoting environmental maintenance in the South Bronx.

The 2005 conference resulted in $2.5 billion in commitments, less than half of the nearly $6 billion pledged so far this year. ___

Associated Press Writer Beth Fouhy contributed to this report.

[LibLieSlayer]

ALL of this money will find its illegal way into dim pockets. satan's son would have it no other way.

LLS

[DTogo]

From the man who did NOTHING to reduce our fossil fuel dependence, increase domestic supplies, or increase renewables while he was President.

It's all about Bill and his legacy.

[eraser2005]

"although this administration has done more for alternative fuels that all the prior administrations combined."

Where do you get this idea?

[eraser2005]

How on earth would drilling ANWR reduce dependence on fossil fuels, lessen pollution, or reduce global warming?

[EQAndyBuzz]

Oops. When I saw dependence I thought they meant dependence on foreign sources of fossil fuels.

Nevermind.

[P-40]

Where do you get this idea?

I've followed the bio-fuels markets for a lot of years.

[freepatriot32]

Rights, farms, environment ping Let me know if you wish to be added or removed from this list.I don't get offended if you want to be removed

[E.G.C.]

BTTT

[Carry_Okie]

This is little more than resource racketeering and regulatory influence peddling.

Glow-bill Warming is Democrats using taxes as a political slush fund.

[ClaireSolt]

Terrific! You are actually informed. /no sarc

[F.J. Mitchell]

If Clinton can con enough billionaires on the idea of fighting global warming; we could be into a new ice age by Christmas. BIIIIIIIIIIIIIIIIIIGGGGGGGGGGGGGGG oil should be donating too. Imagine the heating oil requirements if the Dimbocrats are successful.

[Maelstrom]

I don't mind the idea of taking his money...but Clinton's crooked and that fund will simply rip off investors for his benefit or that of one of his buddies.