Kleiner Perkins (boasting partners John Doerr and Al Gore) invests in a company that drills for oil

Kleiner bets the farm (cont.) - Jul. 8, 2008

There is one company that could be Kleiner's first energy-sector grand slam- and there's nothing green about it. The secretive, seven-year-old company, called Terralliance Technologies, has developed software that purports to make it easier and cheaper to find and extract oil and natural gas. Rather than license its software to petroleum giants, Terralliance decided to become a wildcatter itself. According to Kleiner partner Joe Lacob, Terralliance has already dug 100 wells around the world and is in the process of raising additional capital. Sources peg the new financing at more than $1 billion and a valuation of around $4 billion. In addition to Kleiner, Terralliance investors include Goldman Sachs and San Francisco hedge fund Passport Capital.
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It would be ironic, to say the least, if Kleiner's first "green" jackpot turns out to be a company that actually drills for oil. Doerr, who has made the reduction of fossil-fuel use a personal crusade, refused to comment on Terralliance.

You may remember Doerr as the guy that got all weepy last year when he imagined that trace amounts of carbon dioxide might kill us all.