Jeffrey Quick's Blog

Filthy capitalism for clean air

Moron More on Gore:

Gore helped found Generation Investment Management, through which he and others pay for offsets. The firm invests the money in solar, wind and other projects that reduce energy consumption around the globe…

As co-founder and chairman of the firm Gore presumably draws an income or will make money as its investments prosper. In other words, he “buys” his “carbon offsets” from himself, through a transaction designed to boost his own investments and return a profit to himself. To be blunt, Gore doesn’t buy “carbon offsets” through Generation Investment Management - he buys stocks.

And it is not clear at all that Gore’s stock purchases - excuse me, “carbon offsets” purchases - actually help reduce the use of carbon-based energy at all, while the gas lanterns and other carbon-based energy burners at his house continue to burn carbon-based fuels and pump carbon emissions - a/k/a/ “greenhouse gases” - into the atmosphere.

The Virginian sees a kind of carbon-based sumtuary law in our future:

The danger is that the use of “carbon offsets” will create two things that re morally monstrous: a de-facto sumptuary law and the impoverishments of the poor and powerless of this planet.

The creation of an aristocratic elite that differentiates itself from the hoi polloi by its ability to buy “carbon offsets” while the rest of the planet is forced by environmental laws into a smaller and smaller carbon straightjacket is not so far fetched.

Meanwhile, the smart money is shorting alternative-energy stocks.