“Gore Financially Invested in Climate Cause”

As previously blogged about here, Al Gore, who relentlessly promotes the economy-killing cap-and-trade system of controlling greenhouse gasses, does indeed have a financial stake in global warming alarmism, no matter how much he denies it. CNSNews.com’s Fred Lucas reported this fact today in an article called “Gore Financially Invested in Climate Cause.” The eminent financial analyst Bert Ely noted correctly therein that you might as well hit the craps table as make a bet on the ‘green’ investments Gore is advocating:

…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.”