Monday, August 04, 2008

Richard Branson, Global Warming Bad Guy

Or so says the Sunday Business Post. Essentially, Branson stands accused of making a large environmental pledge (1.9 billion euros over 10 years), but then using that money to develop his biofuels business.

How this differs from normal environmentalist rent seeking isn’t immediately clear, since most of this legislation seems designed to steer money to the politically connected at the expense of the rest of us.

Or, for that matter, Al Gore’s venture capital business? Kinda puts Al in a position to get on the inside track to make big piles of money once the Congress gets serious about prosperity proofing the economy through endless miles of “green” regulations, mandates, and subsidies.

Branson may be a hypocrite, but he’s hardly alone in the green arena.