Gore Likens Carbon to Subprime Debt in Plan to Repair Capitalism - Bloomberg
Former U.S. Vice President Al Gore said investors in oil and gas companies who ignore the cost of emitting carbon dioxide and other greenhouse gases are making a mistake similar to those who invested in subprime mortgages.
“The value of the subprime mortgages was based on a false assumption,” Gore said yesterday in an interview. “In almost exactly the same way, the value of all of these carbon fuel reserves is based on a similarly absurd assumption.”...
Gore, a Democrat who won a Nobel Prize in 2007 for his efforts to raise awareness of climate change, said the “absurd assumption” that he sees underpinning energy stocks may collapse in the next decade.
1 comment:
Actually, Gore's entire fortune is based on "literal" vapor ware. I can't wait for the CO2 indulgence market to flatline, and he's selling pencils on the street.
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