ClimateGate news

Tuesday, September 16, 2008

Lehman Brothers Close Ties to Gore, Hansen and Carbon Trading

Al Gore’s carbon trading business GIM was banked with Lehman Bros. It will be interesting to see how this will play in the future but I suspect that this increases the risk of participating in Carbon trading. Merrill Lynch was also deeply involved in this business.

Last year Lehman Brothers released a long and highly publicized report about climate change in which they preached about decarbonization, trying to make their investors keep getting high profits from the Kyoto carbon trade scheme and the support of huge public subventions. All that, of course, with the applause of the usual choir of politicians, the entire media and the Greens.

A year ago they couldn’t predict their bankruptcy but were predicting the climate 100 years ahead.
Full report at ICECAP.

1 comment:

John Nicklin said...

Gore's carbon ripoff is built on the same strong financial foundation that Enron pursued. They (Enron) pushed Clinton/Gore for carbon trading, but couldn't manage to hold on long enough to cash in. There was even talk of Enron's president filling a position in Gore's cabinet and then Kerry's had either of them won the job of POTUS.

We can hope that Gore kept all of his new-found wealth in the Lehman Brothers' vaults and that it is all gone. Somehow I doubt it, but it is a delicious idea to ponder.