Top Manager Sees "Huge Risk" in Alternative Energy as Proof of Global Warming Cools

Daniel Rice, manager of the BlackRock Energy & Resources Fund, is the best-performing U.S. equity fund manager of the past decade, according to Morningstar. He's also not afraid to speak his mind, especially when it comes to the subjects of global warming and alternative energy, as revealed in the accompanying video.

Rice paints a "pretty dire picture" of the whole alternative energy industry, with the possible exception of wind, based on the following:

* Global warming patterns have reversed in the past decade, Rice says, citing studies by meteorologist Dr. Judah Cohen, whom BlackRock has on retainer. Ten years is microscopic in geological terms but "you'd better hope global warming is caused by man-made [carbon dioxide] if you're investing in these sectors," he says. "I think that's a huge risk based on some of the evidence that's been coming out."

* Alternative energies are not economical without major government subsidies or a large enough carbon tax. The cap and trade legislation currently being debated is "not enough to do anything," Rice says. "All it does is provide Obama a pass to Copenhagen" where the U.N. is hosting a climate change conference in December

Will China Follow This Time?

A mantra repeated endlessly in the cap-and-trade debate is that unilateral U.S. action on climate change will spur China (and other developing countries) to follow suit. This mantra is spoken with metronomic regularity, despite China’s unequivocal opposition, stated over and over again, to accepting mandatory emission cuts. Such opposition should be no surprise: China has amassed a long and ignominious record of divergence on issues in which the United States has taken the lead.

The Climate Sceptics Party Blog: Jay Lehr on CO2

Jay Lehr, PhD will be visiting a centre near you in Australia next month.
Tour dates will be announced here soon.

Here are some extracts from his "A Primer on Global Warming: Dispelling CO2 Myths."

WestJet: Use Coupon Code OFFSETTERS to Purchase Carbon Offsets for Your Flight (At No Extra Charge) @ Daily-Free.com

There's an interesting green promo on at WestJet right now -- and it's available at no extra cost to you!

Just enter coupon code OFFSETTERS in the Promo Code field when booking to contribute 2% of your fare to carbon offsetting. You're not paying an extra two percent, you're just earmarking that portion of your fare for carbon offsets.