When I read the article about the electric bill for Al Gore's home, I didn't see much of an article in terms of something decent to post about. Basically a "non story". However, a couple of guys dug deeper and found that Al Gore doesn't purchase "carbon offsets" like you and I would. Here's where the "real" story is. Al's just drumming up support and "offsetting" it by purchasing stocks in his own company.
But how Gore buys his "carbon offsets," as revealed by The Tennessean raises serious questions. According to the newspaper's report, Gore buys his carbon offsets through Generation Investment Management:
Gore helped found Generation Investment Management, through which he and others pay for offsets. The firm invests the money in solar, wind and other projects that reduce energy consumption around the globe...Gore is chairman of the firm and, presumably, draws an income or will make money as its investments prosper. In other words, he "buys" his "carbon offsets" from himself, through a transaction designed to boost his own investments and return a profit to himself. To be blunt, Gore doesn't buy "carbon offsets" through Generation Investment Management - he buys stocks.
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No problem with him doing this. Big problem with him telling the rest of us that we need to "SAVE THE PLANET!!!"
Exactly right. There's nothing wrong or illegal about it, but it just feels a bit shady that he's going about it in this way. What he could do is purchase carbon offsets from his local electric company or another electric company that offers those in case his does not. But he chooses to go this route and you've nailed it on the head.
Travis
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