Al Gore is a Liar!
"It would be very helpful if you have government initiative. Without it, it will take longer for these to be economically viable," Patterson told Cybercast News Service. However, Bert Ely, a financial analyst with Ely & Associates of Alexandria, Va., is skeptical that the kind of green investment portfolio Gore is advocating can be profitable without government action. History has shown green companies to be risky ventures, he says
"Wind power, solar and bio-fuels all operate on tax subsidies or purchase requirements," Ely told Cybercast News Service. "The government stimulates demand. The most notorious subsidy is the 51 cent gas credit for ethanol."
"To the extent that you got some kind of government mandate here, whether it is cap-and-trade or a purchasing requirement, a taxpayer subsidy, to me that's a dicey way to look for a return on a venture because what the government giveth it can taketh away -- and often does," Ely said. "You're making a political bet, not an economic bet."
(A cap and trade system would set limits on the amount of carbon a company can emit. The limits are called a "cap." If a company has to exceed the limit, it would be allowed to buy credits from companies that pollute less. This transfer would be the "trade.")
In public statements, KPCB (Kleiner Perkins Caufield & Byers - a firm in which Al Gore has become partnered with) has pointed to the likelihood of new government policies as a selling point for investors.
It looks like a good turnout of intrepid Americans in Portland, Oregon. They were there protesting Al Gore and his scandalous and shameful promotion of the lie of 'global warming':
Portland, Oregon??!! That bastion of liberals and lefties? Gore is in trouble if the Portland, Oregonians are assembling against him!
HT Mr. Grey Ghost.
Cross posted at A Tangled Web