Since the Kyoto Climate Change treaty was rejected by the US Senate (and this uber-Progressive getting “the boot from the Oval Office” (losing his election)), we’ve had to put up with his (environmental) screeds in the national papers (and TV) about how Republicans (and Conservatives and Climate Deniers) that if we all didn’t don his brand of hairshirt, drive electric Tonka trucks, use only 1 lightbulb, and the like, that the “planet’s fever” would destroy the planet. Deniers: hate the poor, hate seniors, hate the disadvantaged, hate Bambi, and want the Greedy Capitalists to rule the world. Profit is a dirty!
…Al Gore also talks to investors. Since 2007, the former Vice President in Bill Clinton’s administration has been preaching the benefits of putting your money where his mouth is: Alternative energy.
But if Al Gore has any message for investors today, it might very well be this: “Stay the hell away from alternative energy!”
Not that he would say so. At least out loud.
Climate policy is still firmly on the political agenda and corporate climate-related activity is increasingly strategic. Innovation is driving costs down and improving the business case for low carbon and high efficiency solutions.
Oh…wait! That’s what he says…..but what is his Venture Capital fund, Generation Investment, actually doing?
Gore’s company files a quarterly report with the SEC that tells a different story about the 30 stocks in its portfolio. His company’s public investments in wind, solar, biomass and other alternative energy to combat climate change are practically non-existent.
But his portfolio is top-heavy in high-tech, medical instruments, and even more pedestrian investments in companies such as Amazon (AMZN), eBay (EBAY), Colgate Palmolive (CL),Nielsen (NLSN), Strayer University (STRA), and Qualcomm (QCOM).
He is also big in China, with stakes in a big Chinese travel agency, CTrip, and China’s largest medical equipment manufacturer, Mindray Medical.
And if you want a piece of the natural gas pipeline game — heavily dependent on the environmentally suspect fracking — you can find that in Gore’s portfolio as well with Quanta Services (PWR).
Generation Investment even had a piece of Staples (SPLS) at one point — but that was before anyone realized that was Mitt Romney’s love child.
I do not deny him his wealth. Or his house. But excoriating his “say this, do that” psychology and snake-oil-manship?
Of course – but he’s doing that well enough already. Just put him in the category, like Kate Miller, as just another Progressive whose words and financial dealings don’t match up.
(H/T: Planet Gore)
Note: see, it is so simple with Progressives – they make it easy to “recycle.
