Al Gore reportedly stands to benefit greatly from proposed "cap-and-trade" legislation -- and possibly become the first "climate billionaire."
It seems the former vice president is playing both sides of the fence on the energy front. He has made millions of dollars in private energy ventures -- and now, according to the New York Times, it seems he will profit significantly from the government energy policies for which he is lobbying. Marc Morano of ClimateDepot.com says Gore stands to reap huge profits from "cap-and-trade" legislation that would mandate carbon trading. "This is not free market capitalism. This is not bootstrap entrepreneurship. This is nothing more than the ability of lobbyists to convince Congress to go a certain way and mandate carbon trading, carbon markets," Morano warns. "Once that happens, this is going to be a government gravy train for Al Gore and many others like him." Morano notes that if Gore can get Washington to pass cap-and-trade legislation, he will be in a perfect position to become the world's first "carbon billionaire." Currently, Gore's net worth is estimated to be in the hundreds of millions.
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