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Was Gore Hired As Venture Capitalist Or Venture Lobbyist?
By Mr Ethanol | November 20, 2007
By Noel Sheppard - NewsBusters:
As NewsBusters readers are well aware, we have for months been chronicling Nobel Laureate Al Gore’s profit motive concerning the advancement of climate change hysteria.
Last Monday, it was announced that the Global Warmingist-in-Chief had been hired by Silicon Valley’s most prestigious venture capital firm.
At the time, the implication was that Gore would assist Kleiner Perkins Caufield & Byers in finding new, unknown eco-friendly companies to invest in.
According to Fox News’s “The Journal Editorial Report,” Gore’s position with Kleiner Perkins may be to get a currently stalled energy bill through Congress that would end up helping companies the VC group has already invested in (video available here, h/t Tim Graham):
James Freeman, WSJ Assistant Editorial Page Editor: His timing could be perfect for Kleiner, because the firm has backed more than a dozen of these clean technologies, but they haven’t been able to exit any yet. So as they look to cash out, a big, big issue for them is the energy bill, now stalled in Congress, with lots of subsidies and favorable regulations for these companies and their portfolios. So Al Gore–Mr. Gore is showing up at a critical time here for the company.
To put this in simpler terms, the VC group Gore just joined has a number of investments in so-called “green” companies, but has yet to be able to bring any to the market. The primary way such a firm makes money is when companies it owns a significant piece of go public on one of America’s stock exchanges or NASDAQ.
Topics: Ecology, Ethanol, News |
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