Planet Gore

Greens Seek Return on Investment

Over on FoxNews, JunkScience’s Steve Milloy introduces us to our first green president (whether he likes it or not):

President-elect Barack Obama could be the nation’s first green president — whether he likes it or not. The Greens’ early investment in Obama’s political soul has matured, and they’re already angling for — and even demanding — payback.
Though the financial crunch should place economy-harming global warming legislation on the back burner, the Natural Resources Defense Council is pushing for it within the first 100 days of the new Congress, supposedly as a means of easing the credit crisis and financing renewable energy projects, according to a report in the November 3 issue of Carbon Control News.
Under the NRDC proposal, credits covering as many as six billion tons of carbon dioxide emissions would be issued in the program’s first year. The credits would be guaranteed a minimum value of $15 per ton by Obama’s Treasury Department, magically converting all that hot air into a $90 billion asset. The guarantee would allow the credits to be used as collateral for loans to green energy projects.
Pennsylvania Gov. Ed Rendell, a key Obama supporter and rumored Secretary of Energy candidate, lobbied on behalf of the green energy industry the morning after the election. Responding to a question from a CNBC interviewer about the merits of “undivided government,” Rendell said, “[Undivided government] is going to allow us to act quickly. We need… to send a message to the renewable energy economy, to the [20 to 25] companies in Pennsylvania and… in New Jersey who are hanging in the balance and, if that tax credit is not renewed or made permanent, they’re done in the next three to four months. This government is going to be able to move in the first weeks of the new Congress.”
Then there’s wannabe green-energy billionaire and Obama supporter Al Gore. Not only did Gore’s climate campaign group place full-page ads in national newspapers on Nov. 5 asking “NOW WHAT?,” in a same-day Wall Street Journal op-ed, Gore argued for carbon-free electricity within 10 years and electrification of the automobile fleet. Both are areas in which Gore has significant financial interests through his UK-based investment firm, Generation Investment Management, and his U.S.-based venture capital firm, Kleiner Perkins.
The Greens are more to Obama than just one of many constituencies. He credits the early endorsement of his candidacy by the Sierra Club and League of Conservation Voters (LCV) in February 2004 for his rise from the Illinois State Senate to the U.S. Senate. “I had no money, had no organization, it was unlikely that the Democrats would nominate a skinny guy from the Southside with a funny name like Barack Obama,” he told the National Journal’s CongressDaily publication.

Read the rest here.


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