April 28, 2010
Hey guess what – who’da thunk it? – one of President Obama’s energy advisers is on course to make millions from shares in green companies which may benefit from green policies that she has helped formulate.
Surprising documents made available to this author reveal that Assistant Secretary of Energy Cathy Zoi has a huge financial stake in companies likely to profit from the Obama administration’s “green” policies.
Zoi, who left her position as CEO of the Alliance for Climate Protection — founded by Al Gore — to serve as assistant secretary for energy efficiency and renewable energy, now manages billions in “green jobs” funding. But the disclosure documents show that Zoi not only is in a position to affect the fortunes of her previous employer, ex-Vice President Al Gore, but that she herself has large holdings in two firms that could directly profit from policies proposed by the Department of Energy.
Among Zoi’s holdings are shares in Serious Materials, Inc., the previously sleepy, now bustling, friend of the Obama White House whose public policy operation is headed by her husband. Between them, Zoi and her husband hold 120,000 shares in Serious Materials, as well as stock options. Reporter John Stossel has already explored what he sees as the “crony capitalism” implied by Zoi being so able to influence the fortunes of a company to which she is so closely associated.
In addition, the disclosure forms reflect that Zoi holds between $250,000 and $500,000 in “founders shares” in Landis+Gyr, a Swiss “smart meter” firm. She also still owns between $15,000 and $50,000 in ordinary shares.
“Smart meters,” put simply, are electric meters that return information about customer power usage to the power company immediately and allow a power company to control the amount of power a customer can consume. These smart meters are a central component of the Obama administration’s plans to reduce electricity consumption as part of the “smart grid.”
Still, I suppose you can’t blame the green profiteers for making hay while they still can. All the signs are there that Project AGW is on the verge of collapsing – from Dr Roy Spencer’s convincing new rebuttal to the increasingly discredited notion that anthropogenic CO2 is the main driver of Climate Change to the news from Australia that Kevin Rudd’s government has shelved its Emissions Trading Scheme. (Hat tip: Peter T of Oz)
As Andrew Bolt reminds us, only two years ago, Rudd was claiming that it was the world’s most important issue:
The biggest challenge the world faces in the decades ahead is climate change. It is the great moral and economic challenge of our time.
Since then though, this decent, principled, forthright leader has considered the matter long and hard and come to an important new conclusion. There are no votes in it.
- What Dave and his chum Barack don’t want you to know about green jobs and green energy
- Pope Catholic; night follows day; IPCC found telling pack of lies about sea level rises
- Christian hoteliers prosecuted for calling Pope ‘Catholic’
- Cameron’s favourite greenie Zac Goldsmith is toast