Al Gore invested in Fracking???

Discussion in 'Environment' started by westwall, Oct 4, 2012.

  1. westwall
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    westwall USMB Mod Staff Member Gold Supporting Member Supporting Member

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    Whaaaaa? As Jon Stewart would say. Renewable energy stocks???? UUUMMMMMMM, no, not really!




    NEW YORK (TheStreet) -- When Al Gore talks, people listen. Just ask the folks who hand out Academy Awards and Nobel Peace Prizes.

    Al Gore also talks to investors. Since 2007, the former Vice President in Bill Clinton's administration has been preaching the benefits of putting your money where his mouth is: Alternative energy.

    But if Al Gore has any message for investors today, it might very well be this: "Stay the hell away from alternative energy!"

    See if (FSLR) is in our portfolio

    Not that he would say so. At least out loud.

    Reading through the promotional materials he puts out through his company, Generation Investment, it is hard to tell whether his "Client Update" is selling investments in his Climate Solutions Fund or memberships in the Sierra Club.

    "Scientific fundamentals continue to point to a need for urgent action on climate," Gore says. Just like his Oscar-winning movie, "An Inconvenient Truth," it has lots of cool charts and graphics.

    Climate policy is still firmly on the political agenda and corporate climate-related activity is increasingly strategic. Innovation is driving costs down and improving the business case for low carbon and high efficiency solutions.

    This goes on for 20 pages. But even Gore does not seem to be listening anymore.

    Gore's company files a quarterly report with the SEC that tells a different story about the 30 stocks in its portfolio. His company's public investments in wind, solar, biomass and other alternative energy to combat climate change are practically non-existent.

    But his portfolio is top-heavy in high-tech, medical instruments, and even more pedestrian investments in companies such as Amazon(AMZN), eBay(EBAY), Colgate Palmolive(CL), Nielsen(NLSN), Strayer University(STRA), and Qualcomm(QCOM).

    He is also big in China, with stakes in a big Chinese travel agency, CTrip, and China's largest medical equipment manufacturer, Mindray Medical.

    And if you want a piece of the natural gas pipeline game -- heavily dependent on the environmentally suspect fracking -- you can find that in Gore's portfolio as well with Quanta Services(PWR).

    Generation Investment even had a piece of Staples(SPLS) at one point -- but that was before anyone realized that was Mitt Romney's love child.

    Not an Apple(AAPL) to be found, despite the fact that Gore sits on its board of directors. But Generation Investment at one time did have a piece of General Electric(GE) and Procter & Gamble(PG) and that global warming game-changer, PayChex(PAYX).




    http://www.thestreet.com/story/11727215/1/al-gore-walks-away-from-green-energy.html?cm_ven=RSSFeed
     
    Last edited: Oct 4, 2012
  2. TakeAStepBack
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    TakeAStepBack Gold Member

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    Gotta a link so I can harrass my LOLberal AL Gore fan, frothing climate doomsday friends?
     
  3. tjvh
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    tjvh Senior Member

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    Al Gore might want to keep his Stock Portfolio in a locked box next time so people wont call him out for being a hypocrite. Even the Limousine Liberals know where the real investments are... Hint... It isn't green.
     
  4. earthmuffin
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    earthmuffin Member

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    Frankly, I'm wary of anyone that preaches green ethics and lives in a mansion. I don't know if this is true, but if it is, I wouldn't be terribly surprised.
     
  5. westwall
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    westwall USMB Mod Staff Member Gold Supporting Member Supporting Member

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    It's absolutely true. You can look it up in the companies prospectus and stock holders report.
     
  6. flacaltenn
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    flacaltenn USMB Mod Staff Member Gold Supporting Member

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    His place here in Nashville used to have a row of Nat Gas spewing torches up the front walkway -- he was harassed about it enough to put a couple $Mill into greening up the place and NOW he hardly spends any time there. I'll drive you by when you come to visit.
     

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