Republican Congresswoman Marcia Blackburn questioned former Vice President Al Gore on how he would profit from enacting a cap and trade scheme in America. Gore replied, “But every penny that I have made, I have put right into a nonprofit, the Alliance for Climate Protection, to spread awareness of why we have to take on this challenge.”
Here’s the exchange (H/T Moonbattery):
BLACKBURN: I’ve got an article from October 8th, the New York Times Magazine about a firm called Kleiner Perkins. A capital firm called Kleiner Perkins. Are you aware of that company?
GORE: (LAUGHS) Well yes, I’m a partner at Kleiner Perkins.
BLACKBURN: So you’re a partner at Kleiner Perkins. OK. Now they have invested about a billion dollars in 40 companies that are going to benefit from cap and trade legislation. So is the legislation that we’re discussing here today, is that something you are going to personally benefit from?
GORE: I believe that the transition to a green economy is good for our economy and good for all of us. And I have invested in it. But every penny that I have made, I have put right into a non-profit, the Alliance for Climate Protection, to spread awareness about why we have to take on this challenge. And Congresswoman, if you’re, if you believe the reason I have been working on this issue for 30 years is because of greed, you don’t know me.
BLACKBURN: I’m not making accusations. I’m asking questions that have been asked of me. And individuals, constituents that were seeking a point of clarity–
GORE: I understand exactly what you’re doing, Congresswoman. Everybody here does.
BLACKBURN: Well, are, you know, are you willing to divest yourself of any profit? Does all of it go to a not-for-profit that is an educational not-for-profit.
GORE: Every penny that I have made has gone to it. Every penny from the movie, from the book, from any investments in renewable energy. I’ve been willing to put my money where my mouth is. Do you think there’s something wrong with being active in business in this country?
First off, he hasn’t. That’s a lie. Let’s walk through this.
In 2000, when Gore left the White House, he was reportedly worth a measly $2 million. Fast forward to today and his net worth is $100 million. So, where did he make the extra $98 million? What has he been doing aside from promoting the Church of Global Warming? He gives speeches, but generally they are on climate change.
Former U.S. Vice President Al Gore left the White House seven years ago with less than $2 million in assets, including a Virginia home and the family farm in Tennessee. Now he’s making enough to put $35 million in hedge funds and other private partnerships.
Gore invested the money with Capricorn Investment Group LLC, a Palo Alto, California, firm that selects the private funds for clients and invests in makers of environmentally friendly products, according to a Feb. 1 securities filing.
Thirdly, so what if he’s giving all his money to the Alliance for Climate Protection. He’s the chair! He gets a tax write-off for donating that money, and then directs where the money goes. Currently, they are spending $300 million on climate change propaganda to convince the naysayers that they are really at fault for global warming.
But a “non profit” is not under obligations to spend all its income (donations) nor all of its assets in every fiscal year. It can accumulate and accumulate donations. Non-profits don’t have customers, so you cannot boycott them. They only have self-appointed boards and donors.
In the case of Gore, it appears that the major donor is also on the Board, so it is a self-perpetuating way of funding propaganda, a tax-exempt pool of money from which he can get his expenses reimbursed and have staff members to help him.
So, there is indeed a benefit that Gore gets from these investments.
Indeed, because of the status of the NP, when he gets a distribution from his Kleiner Perkins partnership, because it is a “donation”, he gets the full economic benefit and use of all the money, rather than what would be left over after paying all the taxes on it!
Finally, he’s also chairman of Generation Investment Management, “a London-based investment management firm” that focuses on “green” investments. So, if his efforts at convincing the public about global warming are successful, the investments he makes via Generation will make him and his friends a lot of money. And that’s something few are asking about. Even if Gore gives away billions in profits, are his partners? Or are they benefiting financially from Gore’s testimony?