Al Gore Still Stranded
How fortunate Mr. Gore and Generation Investment Management (GIM) were able to secure a half-page "opinion" piece in the October 30, 2013 Wall Street Journal. Readers should be grateful that GIM is so concerned for their financial well-being that they wrote this exposé of misguided investments in fossil fuels. The article reads like a self-serving stock prospectus designed to persuade potential investors sell off or short carbon assets, lest they be "stranded" with toxic investments. Perhaps GIM would then be so kind as to take those freed funds under its own management and redirect them to the profitable "renewables" niche market in which they specialize.
Mr. Gore himself is stranded with the outsized and unfulfilled climate catastrophe claims of his 2006 An Inconvenient Truth. They live on in this latest anti-carbon crusade. The central claim of the WSJ article of a "consensus within the scientific community that increasing the global temperature by more than 2˚C will likely causing devastating and irreversible damage to the planet" is unsubstantiated. Quoting a mythical consensus does not qualify as scientific truth. The inconvenient, but factual, truth is that even as atmospheric carbon dioxide has risen about 9% the past 15 years, global temperatures have remained level. Sea level rates of rise have not accelerated; no major hurricanes have stuck the U.S. since 2005. Fossil fuels remain the mainstay of reliable energy production, here and overseas. Coal-based energy production is increasing on a worldwide basis. Germany exemplifies this trend as the energy void created by closures of their nuclear power plants is being filled by coal-fired electrical generation.
Like the iconic polar bears used to promote global warming catastrophe, Mr. Gore is now the one stranded on an Arctic ice floe of shrinking credibility.