Gore: “I Put My Money Where My Mouth Is”; Cons Resent His Green Investments
Conservatives who claim they love capitalism somehow resent that Al Gore invests in what he believes, and that it’s paying off. The headline in the UK’s Telegraph, “Al Gore could be come world’s first carbon billionaire,” really annoys the global warming deniers.
Last year Mr Gore’s venture capital firm loaned a small California firm $75m to develop energy-saving technology. The company, Silver Spring Networks, produces hardware and software to make the electricity grid more efficient.
The deal appeared to pay off in a big way last week, when the Energy Department announced $3.4 billion in smart grid grants, the New York Times reports. Of the total, more than $560 million went to utilities with which Silver Spring has contracts.
The move means that venture capital company Kleiner Perkins and its partners, including Mr Gore, could recoup their investment many times over in coming years.
Right-wing websites are blaring the UK headline, with bitter commentary about Gore’s investments. But, for his part, Gore says, “Of course I invest according to my beliefs and values. I put my money where my mouth is. If I didn’t they’d criticize me for being a hypocrite.” Viva la capitalism!
Click here for reuse options!
Copyright 2009 Liberaland