Planet Gore

Lemonade . . . or Snake Oil?

Greg notes Al Gore’s efforts to make the best of a bad situation — see his puffery below about the great opportunity to help prop up his investments if you act now!!!

The lead story today in Greenwire (which, frankly, is hardly distinct from any other green pressure group, no matter how much it tries to cloak itself in the media mantle) does slightly less well at masking its fears. Here’s the lead, which mixes some Gore-like salesmanship with context:

 ”NEW YORK — The crisis roiling Wall Street is threatening to choke financing for green energy projects. Venture capitalists and private equity firms could fill the void as traditional financing options dry up. Indeed, private equity fund managers say the current turmoil could turn into a net positive for them: As debt markets turn their backs on green energy companies, many will look to venture capital and private equity to get backing for new projects or expansions. But the new, highly risk-averse environment will make it that much more difficult for companies to convince investors to put money behind renewables. While the sector is still very popular, the chief worry among money managers is protecting existing portfolios and guaranteeing that any new investments will net them strong, long-term returns.”

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