WASHINGTON D.C. — IER Senior Vice President Daniel Kish was quoted in a Bloomberg news article today on Nobel Prize winner and left-wing nouveau riche, former Vice President Al Gore. The article, listed as the top story on the Drudge Report, outlines Gore’s rise to riches after his defeat in the 2000 presidential election. Much of Gore’s personal income growth has come from his work as a climate change alarmist and his ability to translate decades of environmental activism into hard cash. Kish’s statement and an excerpt from the article are below:
Gore is Romney-Rich with $200 Million After Bush Defeat
By Ken Wells and Ari Levy
May 6, 2013
…In another instance, GIM took a 10 percent stake in the Chicago Climate Exchange, set up in 2003 by former derivatives guru Richard Sandor to take advantage of what the exchange’s founders hoped would be a government-mandated price on carbon. The exchange ran into the same headwinds as Camco and was sold to Atlanta-based IntercontinentalExchange Inc. in May 2010 for $581 million. It was later shut as carbon prices fell to all- time lows.
GIM would only say that neither Camco nor Chicago Climate Exchange were profitable investments.
If emissions limits had been approved by Congress, both Camco and the exchange stood to rake in huge profits, said Dan Kish, vice president for policy with the Washington-based Institute for Energy Research, which gets funding from oil and natural gas companies.
“Al Gore is like the preacher touting his moral purity and superiority,” Kish said. “Yet it turns out that heeding his preachings is directly linked to his financial interests.”
Besides its losing investments in Camco and Chicago Climate Exchange, GIM also bailed out of First Solar Inc., a solar-panel maker that, like bankrupt Solyndra LLC, got squeezed when cheap Chinese supplies began hitting the market in late 2010…
To read the full article, click here.