The founder of The Weather Channel, John Coleman, stated last year, November 2008 that global warming is "the greatest scam in history".
While speaking at the 2008 International Conference on Climate Change that was held in New York City, "Coleman took his criticisms further by advocating that all those involved in the sale and marketing of carbon credits, including Al Gore, should be sued 'to finally put some light on the fraud of global warming."
I whole heartedly agree. (Steve)
Carbon credits are part of the "cap and trade" system.
To resolve the "climate crisis," Gore wants to put a cap on the production of greenhouse gases. He calls for an immediate freeze on U.S. emissions, a ban on new coal-fired power plants, tough new fuel-economy and energy-efficiency standards, renewable energy mandates, carbon taxes and mandatory targets and timetables for reducing greenhouse-gas emissions. Those emissions consist mostly of carbon dioxide (CO2), the byproduct of fossil fuels such as oil, coal and natural gas, which supply 85% of all U.S. energy.Let's take a look at Al Gore's business connections to reveal why he pushes the global warming agenda.
His principal regulatory tool is what’s called carbon-credit trading.
Under a so-called "cap-and-trade" system, government places a ceiling or "cap" on private-sector emissions of CO2 and other "greenhouse gases." Each sector, industry or business is allocated a fixed quantity of carbon credits that allow it to emit specific quantities of greenhouse gases. As an example, one tradable carbon credit might permit the emission of one ton of CO2. If a business emits more tons of CO2 than its supply of credits allows, it has the option to buy surplus credits from other firms -- or it will have to pay a fine in proportion to the amount of the excess emission. By contrast, businesses that emit less than their allocation can sell their excess credits.
This system, which may sound market-friendly, is something only a bureaucrat could dream up. The twist is that the carbon market exists only because the government’s imposition of a cap creates an artificial scarcity in the right to produce energy. In a cap-and-trade system, buyers will purchase their offsets from a broker or through an electronic trading platform. In Europe, carbon trading is already a reality. Since 2005, carbon offsets have been traded electronically on the European Climate Exchange (ECX). In America the major carbon-credit trading firm that currently exists is the Chicago Climate Exchange (CCX). CCX aspires to be the New York Stock Exchange of carbon-emissions trading.
Al Gore is chairman and founder of a private equity firm called Generation Investment Management (GIM). According to Gore, the London-based firm invests money from institutions and wealthy investors in companies that are going green. "Generation Investment Management, purchases -- but isn’t a provider of -- carbon dioxide offsets," said spokesman Richard Campbell in a March 7 report by CNSNews.How does GIM influence CCX, the exchange that provides a market for "carbon credits"?
GIM appears to have considerable influence over the major carbon-credit trading firms that currently exist: the Chicago Climate Exchange (CCX) in the U.S. and the Carbon Neutral Company (CNC) in Great Britain. CCX is the only firm in the U.S. that claims to trade carbon credits.
Along with Gore, the co-founder of GIM is Treasury Secretary and former Goldman Sachs CEO Hank Paulson. Last September, Goldman Sachs bought 10% of CCX shares for $23 million. CCX owns half the ECX.
Clearly, GIM is poised to cash in on carbon trading. The membership of CCX is currently voluntary. But if the day ever comes when federal government regulations require greenhouse-gas emitters -- and that’s almost everyone -- to participate in cap-and-trade, then those who have created a market for the exchange of carbon credits are in a position to control the outcomes. And that moves Al Gore front and center. As a politician, Gore is all for transparency. But as GIM chairman, Gore has not been forthcoming, according to Forbes magazine. Little is known about his firm’s finances, where it gets funding and what projects it supports.
In 2006 Al Gore established his own global-warming non-profit group, the Alliance for Climate Protection, a 501(3)(c) charitable organization. Gore is chairman of the board. The group favors more stringent environmental policy regulations on the private sector and especially wants cap-and-trade legislation so that companies will be forced to lower their greenhouse gas emissions and buy carbon credits. Gore has reportedly given the alliance $250,000 and has said he will donate his share of the profits from An Inconvenient Truth to the group.
Gore has also joined Kleiner Perkins Caufield & Byers. That venture capital firm says right on its website's homepage that:
KPCB is actively working with entrepreneurs to solve our climate crisis. To accelerate our solutions, Al Gore has joined KPCB as a Partner, and KPCB has formed an alliance with Gore's Generation Investment Management (GIM). The combined network, expertise, vision and global reach of Gore, Generation and KPCB will help our entrepreneurs change the world.
Available data indicates that Mr. Gore has a net worth well in excess of $100 million. Gore has become a millionaire many times over, bringing him, in financial terms, shoulder to shoulder with the C-suite denizens he used to hit up for campaign cash. In addition to the steady flow of six-figure speaking gigs, he has become an insider at two of the hottest companies on the planet: at Google, where he signed on as an adviser in 2001, pre-IPO (and received stock options now reportedly worth north of $30 million), and at Apple, where he joined the board in 2003 (and got stock options now valued at about $6 million). He enjoyed a big payday as vice chairman of an investment firm in L.A., and, more recently, started a cable-television company(Current TV).
The Tennessee Center for Policy Research, a state think tank, revealed that he was an energy hog. Public records show that Gore’s Nashville mansion used in one month more than twice the electricity the typical American household uses in a year: His average monthly electric bill was more than $1,359. Moreover, Gore’s household energy use increased after An Inconvenient Truth, his film about global warming, was released to ecstatic reviews.It seems that Mr. Gore is not willing to reduce his own green house gas emissions. Why should we?