Al Gore’s Carbon Empire: Cashing in on Climate Change

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By Fred Lucas, Capital Research Foundation Watch

Al Gore says everyone will benefit when new government rules require companies to pay to reduce global warming. But some people will benefit more than others, as will some companies. Benefiting most are those like the ex-vice president who can set up and invest in companies that will profit from the federal regulations imposing heavy costs on others.
Who pays for Gore’s crusade? In accounting for the $300 million in costs for the public education campaign of the Alliance for Climate Protection, the group’s website says that Al Gore pays for much of the project himself using the proceeds from his film and book, An Inconvenient Truth, and the $750,000 cash prize attached to the Nobel Peace Prize. It adds that he “has since received additional support in the form of private donations from those concerned about solving the climate crisis.”
Andrew C. Revkin of the New York Times reported on the newspaper’s Dot Earth blog March 31 that the Alliance raised half the sum - $150 million - for the ad campaign. But from whom? Gore says he put up about $3 million, but when asked the question on TV’s “60 Minutes,” he would not identify other funders. Solar and wind power companies? Hedge funds and venture capitalists? Gore’s own company, Generation Investment Management?
Gore and the global warming crowd are usually quick to challenge the credibility and sincerity of any scientist, climatologist or policy organization skeptical of man-made global warming. They call skeptics “shills” for Big Oil or, worse, “deniers,” invoking the term used against anti-Semites who deny the Holocaust. But they refuse to acknowledge their own growing financial interest in the carbon control industry. Barack Obama has said if he is elected president, he will be sure to find a prominent role for Al Gore in his administration. If that happens, will anyone raise questions about Al Gore’s conflict of interest?
Since leaving public office, Al Gore has become a one-man conglomerate: He writes books, stars in a movie, commands massive speaking fees, and sits on numerous corporate boards. According to Bloomberg News, Gore had less than $2 million when he left the vice presidency in 2001. Today his fortune is more than $100 million (Fast Company, July 2007) and the prospects are that he will grow even richer mounting his crusade against global warming.
The prospect of carbon regulation is why major corporations have latched onto Gore. He is the environmental movement’s bullhorn to the world, proclaiming the crisis of planetary warming. But the truth is that Gore also has become a bullhorn for corporations that are ready to cash in on the hysteria.