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.
Critics, mostly on the political right and among global warming sceptics, say Mr. Gore is poised to become the world’s first “carbon billionaire,” profiteering from government policies he supports that would direct billions of dollars to the business ventures he has invested in.
What a left wing con job
a tax on nothing ,creating nothing except for billions for phonies
How they look at themselves in the mirror and think that they are the creator’s gift to the world
The only thing that rivals this scam is the H5N1 flu epidemic ?
#33 – It ain’t their knees that they’re jerking. 😉
If Gore has intentions to compete in a free market, I see no problem with it (I will voluntarily choose not to purchase his ‘product’). Rather, the issue is that he wants to use the threats of government to force people into doing business with him. I don’t understand how some of the previous commenters fail to see this distinction. Then again, who needs logic and reason when we have sir-lord-gods like Gore to tell us how to live. Church of global warming indeed.
#34, I’m wondering that, too.
What are they actually making here?
The only things being produced are what’s coming out of the money printer.
The Free Market is a myth. There is no such thing. Governments always skew markets based on lobbying from businesses (less often from the people) or other policy goals. Can anyone cite me a free market outside of the Black Market.
#24 pedrito
Madoff put everybody else’s money where his mouth was.
I would say the rising cost of oil, the continuing increase in energy demands, and the certain knowledge of that resources’s eventual exhaustion, make this kind of investigation/business attractive/necessary and not a bunch of political or environmental speculation.
I don’t get this. Gore is not a politician. He lost that election (well not really, but that’s another story). Is it now not OK with Tea Baggers that people invest their money where they see fit?
Venture capital. Good thing. Glad to hear that smart investing in technologies that could help this nation and help us get ahead in a new industry are paying off.
I’ve not yet read the rest of the responses on this thread. I expect to find a lot of wing nuts who think that this is somehow worse than Haliburton’s war profiteering on no-bid contracts awarded while the ex-CEO was the sitting VP of the nation.
#34, #36: What are they actually making here?
Let me help you out by reading the article for you, as you seem to have no capability:
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.
OK now: The Energy Department wants the U.S. to have more efficient energy grids. They’re giving grants to utility companies to do that. Many of the utility companies have contracts with a company Gore funded that provides the hardware and software to improve electricity grid efficiency.
In other words, he saw a need, financed a company that fulfills that need, and stands to make a bundle. Free enterprise, at its finest, staring you in the face. With all your incessant babbling about free markets I’d think you would see it.
#13 – Glass Half Full,
Yes, well said. And even better if we can get our science from someone who thinks the world is only 10,000 years old, while burning 250 million year old oil.
#42, But there wasn’t a market for it until the government gave them grant money.
Are you saying this is an artificial market?
#44, No. By artificial, I mean one where you have no choice but to buy their product.
#46 I don’t think the government is forcing utility companies to buy this technology, the article mentioned grants from the DOE, which usually means you have to apply.
Though any utility company that refused to invest in energy-saving technology would have to answer to its shareholders.
Seems the right wing dings are still sticking to their dig dig dig for dinosaur juice strategy.
#47, But that is not what’s happening.
They have to buy carbon credits. It’s a tax.
This is forcing them to implement their business model how someone in D.C. wants them to, not how the rest of the market dictates.
What will happen to the companies who don’t take the grants? They will probably go out of business because the government-imposed market will squeeze them out.
They have no choice.
Talking about rich folk.
http://buzzfeed.com/awesomer/what-rich-people-eat-cci/
30,
You must have a very short attention span, and missed my earlier post in this thread where I did quote facts. But since I’ve never seen you use facts, I guess you don’t know what they look like.
If this results in more Americans driving bigger SUVs, living in bigger houses, spread farther apart, then it’s all good. Otherwise it’s all a waste of time on things that aren’t important.
The term “charlatan” jumps to mind.
Wikipedia says:
“A charlatan (also called swindler or mountebank) is a person practicing quackery or some similar confidence trick in order to obtain money, fame or other advantages via some form of pretence or deception.”
Sounds about right.
http://en.wikipedia.org/wiki/Charlatan
#49 Yes yes, it’s evil, the government forcing utilities to be more efficient. We’ve heard your song and dance, LL. Anything else to add?
Gore is getting rich ruining America for no net gain for the environment. Nobody who is concerned about the nation should be happy about this.
The worst part is the numbers say the program is not going to help the environment enough to notice even if global warming works the way Gore claims.
Of course Gore has the Carbon footprint of small town so I can’t believe he’s actually serious about his claimed views.
Oh, the breastbeating, wailing, moaning, gnashing of teeth and rending of garments the wingnuts are showing us! But it’s all BS… if a Republican had given venture capital to a small company that made it big, they’d be rah rah capitalism.
Just a bunch of knee-jerk wingnuts.
CLINTON! BOO! GORE! BOO! THE LIBRULS ARE GONNA GETCHA! RUN AWAYYYYYYYY!!!!!
🙂
#58 Little pedro, can you not form a thought that takes more that 3 sentences to express? There’s medication for that, you know. Unless it’s good old stupid… no cure for that, I’m afraid. 🙁
So let me get this straight: Al Gore invests in a company that researches how to make the electric grid more efficient, and consults about that with utility companies, and dozens of rabid, foaming-at-the-mouth trolls scream that that’s EVIL? I say it’s nothing but plain CAPITALISM, and him putting his money where his mouth is.
There are NO facts behind their arguments, not even consistent politics (When Warren Buffet does it, it’s Capitalism; when Gore does it it’s EEEVIL!!!). No, these people just hate Mr. Gore and everything he does, like all that annoying breathing in and out, in and out, in and out…
Well, they can all go to Hell; if they live long enough (30-50 years ought to do it), while continuing to deny global warming and preventing any work to ameliorate it, they will be living in Hell, and they’re welcome to it! (“Welcome to Venus II, second home of the Runaway Greenhouse Effect!”)
Funny how no one has seen the irony of one of the ultimate liberal mush heads being exposed as being an Evil Capitalist(r) and trying to make (ugh)money for himself instead of Spreading the Wealth(tm).
Actually I have no problem with him making money off the climate scam. I wish I could find a way to do it. As long as his little scheme doesn’t drive my cost of living up or lower my lifestyle in any way I’m fine with it.
Don’t forget that making the grid better is necessary. When the Earth starts to fry we’re going ton need more power to run air conditioners.
#56 – when the sun isn’t directly overhead, Gore’s shadow is the size of a small town as well.
They tell us eating meat has a bigger carbon footprint than a SUV, but Al hasn’t gone vegetarian yet either.
Gore tried to steal an election and fortunately failed. He wanted to be an “important guy”. Now, out of revenge, he wants to destroy America and get rich to spite us.
#55, That’s your answer? An emotional outburst?
Once again, you’ve proven that when confronted with logic and reason, collectivists resort to personal attacks.
#62 TA, you’re the typical black and white wingnut who can’t see any shades of gray. If you’d been listening, you would have realized that us liberals don’t say capitalism is evil. There are some excesses of it that need to be curbed, but as a system it works pretty well. But you get points for understanding that making the grid better is a good idea, regardless of global warming.
#63 ooooh… you called me a collectivist. In Libertarian World, them’s fightin’ words. Luckily, I live in reality, so no offense taken. 🙂
LL, you’re a one-trick pony. Whatever the question is, your answer is “unregulated free markets”. Sorry, dude — you’re boring. And you libertarians just can’t grasp the fundamental concept: there are no free markets without regulation. The founders of capitalism realized that. Maybe you will too someday.
#65 With all that’s changing in the world, some things that never change are comforting… and that includes little pedro’s drive-by snippets and projection of his own black and white mentality on others.
Don’t ever change, little pedro. 🙂