Lomborg's 'Climate-Industrial Complex'

Noted climate change critic Bjorn Lomborg has an article in today's Wall Street Journal that is a must read if you want to understand the forces of business and industry who are hard at work trying to profit off the global warming scare.

Referring to a similar business-government partnership during the cold war - the military-industrial complex - Lomborg dubs these "green" companies part of the "Climate-Industrial Complex" with none other than Al Gore leading the charge to making a buck off the climate change racket:

This phenomenon will be on display at the World Business Summit on Climate Change in Copenhagen this weekend. The organizers -- the Copenhagen Climate Council -- hope to push political leaders into more drastic promises when they negotiate the Kyoto Protocol's replacement in December.

The opening keynote address is to be delivered by Al Gore, who actually represents all three groups: He is a politician, a campaigner and the chair of a green private-equity firm invested in products that a climate-scared world would buy.

Naturally, many CEOs are genuinely concerned about global warming. But many of the most vocal stand to profit from carbon regulations. The term used by economists for their behavior is "rent-seeking."

The world's largest wind-turbine manufacturer, Copenhagen Climate Council member Vestas, urges governments to invest heavily in the wind market. It sponsors CNN's "Climate in Peril" segment, increasing support for policies that would increase Vestas's earnings. A fellow council member, Mr. Gore's green investment firm Generation Investment Management, warns of a significant risk to the U.S. economy unless a price is quickly placed on carbon.

Even companies that are not heavily engaged in green business stand to gain. European energy companies made tens of billions of euros in the first years of the European Trading System when they received free carbon emission allocations.

This "if you can't beat 'em, join 'em," philosophy may produce profits but only makes it clearer that other businesses will suffer the consequences of such draconian government action.

And who is surprised that Al Gore would be first in line with his hand out for government goodies?

Read Lomborg's entire piece for some good background on this phenomenon.
Noted climate change critic Bjorn Lomborg has an article in today's Wall Street Journal that is a must read if you want to understand the forces of business and industry who are hard at work trying to profit off the global warming scare.

Referring to a similar business-government partnership during the cold war - the military-industrial complex - Lomborg dubs these "green" companies part of the "Climate-Industrial Complex" with none other than Al Gore leading the charge to making a buck off the climate change racket:

This phenomenon will be on display at the World Business Summit on Climate Change in Copenhagen this weekend. The organizers -- the Copenhagen Climate Council -- hope to push political leaders into more drastic promises when they negotiate the Kyoto Protocol's replacement in December.

The opening keynote address is to be delivered by Al Gore, who actually represents all three groups: He is a politician, a campaigner and the chair of a green private-equity firm invested in products that a climate-scared world would buy.

Naturally, many CEOs are genuinely concerned about global warming. But many of the most vocal stand to profit from carbon regulations. The term used by economists for their behavior is "rent-seeking."

The world's largest wind-turbine manufacturer, Copenhagen Climate Council member Vestas, urges governments to invest heavily in the wind market. It sponsors CNN's "Climate in Peril" segment, increasing support for policies that would increase Vestas's earnings. A fellow council member, Mr. Gore's green investment firm Generation Investment Management, warns of a significant risk to the U.S. economy unless a price is quickly placed on carbon.

Even companies that are not heavily engaged in green business stand to gain. European energy companies made tens of billions of euros in the first years of the European Trading System when they received free carbon emission allocations.

This "if you can't beat 'em, join 'em," philosophy may produce profits but only makes it clearer that other businesses will suffer the consequences of such draconian government action.

And who is surprised that Al Gore would be first in line with his hand out for government goodies?

Read Lomborg's entire piece for some good background on this phenomenon.