Gore freely admits he knew ethanol was a mistake and would increase food prices but lied about it because he was running for president. NY Mayor Bloomberg himself knows ethanol is a killer.
6/18/12, "Gore’s eco-friendly firm lands $16M contract to manage city pension funds," NY Post, Bennett, Campanile
"Here’s an inconvenient truth: New York is greening the wallet of Al Gore.
Embattled city Comptroller John Liu [see below] has delivered a $16.56 million contract to the former vice president’s environmentally friendly investment firm, Generation Investment Management, to help manage hundreds of millions of dollars in city pension funds, The Post has learned.
The Comptroller’s Office had previously awarded Gore’s firm $12.8 million in pension-fund business under Liu’s predecessor, Bill Thompson.
Since 2009, state Comptroller Tom DiNapoli has approved $6 million in contracts to the firm, co-founded and chaired by Gore. Generation now manages nearly a half-billion dollars of state pension-fund investments, records show.
In total, that’s more than $35 million in greenbacks to Gore’s firm....
Gore, who won a Nobel Peace Prize in 2007 for his campaign to tackle global warming, is a leading proponent of “sustainable capitalism.” He focuses on the long-term value of companies that address risks like climate change and slams the market’s obsession with short-term profits.In a white paper released in February, Gore and his business partner, David Blood, a former Goldman Sachs executive, recommended companies and investors scrap the use of quarterly reports as benchmarks and provide financial rewards to longer-term investors....
Gore, a Democrat who won the popular vote but lost the presidency to Republican George W. Bush in the disputed 2000 election, remains a formidable figure in the Democratic Party — particularly on environmental concerns.
For Democratic politicians like Liu and DiNapoli who want to burnish their credentials as environmentally responsible financial stewards, hiring Gore’s firm is like hitting a home run, analysts say.
“There’s a lot of pressure on pension funds to be environmentally sensitive. Gore’s name and stature in the pension-fund community is invaluable — particularly for Democrats. He’s Al Gore!” said Bill Sannwald, a corporate governance and ethics professor at San Diego State University....
Spokesmen for Liu and DiNapoli declined to comment on whether their bosses had interacted with Gore before awarding his firm contracts, but they defended the deals, saying the firm produced admirable returns on investments.
Liu spokeswoman Stephanie Hoo said Generation investments have earned a 22 percent return for the city. The firm has delivered a 32.7 percent return on its state pension-fund investments since its hiring in 2009, records show."...
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2/19/12, "(NYC Controller) John Liu Weighs Next Steps in NYC Mayoral Campaign After Treasurer Charged," Bloomberg
"Fraud charges against his campaign finance chief have New York City Comptroller John C. Liu considering “how to move forward” in his bid for mayor."...
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11/22/10, "US corn ethanol "was not a good policy"-Gore," Reuters
He explained his own support for the original programme
- the farmers in the state of Iowa because
- I was about to run for president."...
- biofuels have an effect" on food prices.
- "The competition with food prices is real.""...
- [About ethanol from same Reuters article:]
"Total U.S. ethanol subsidies reached $7.7 billion last year according to the International Energy Industry, which said
- biofuels worldwide
- received more subsidies
- than any other form of renewable energy."...
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NYC Mayor Bloomberg knows ethanol is a killer:
2/11/08, "Bloomberg slams U.S. energy law over corn ethanol" Reuters by Louis Charbonneau and Timothy Gardner
"A new U.S. energy law will cause an increase in global food prices and lead to starvation deaths worldwide because it continues to promote corn ethanol, New York Mayor Michael Bloomberg said on Monday.
"People literally will starve to death in parts of the world,- it always happens when food prices go up," Bloomberg told reporters
after addressing a U.N. General Assembly debate on climate change."...
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1/28/11, "Draft EPA report: Biofuels threaten habitat, water quality," The Hill, Ben Geman
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10/29/11, "UK firm's failed biofuel dream wrecks lives of Tanzania villagers," UK Guardian, Damian Carrington
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