Friday, August 24, 2007

Green can be the colour of money

An interesting article from The Daily Reporter by AP writer Thomas Wagner.

"The United States, Europe and Japan are locked in a frantic race to cash in on the exploding business of saving the planet." As in, who can profit from it the most and the quickest?

"the battle against global warming continues to offer investors an unusual chance to be idealistic and greedy at the same time." As ever, it seems that greed, in the end, will always win.

"The city of London financial district has taken the lead in making billions from the management of CO2 emissions, one of the fastest-growing segments in financial services." So the UK is doing OK in the emissions trading arena and the wall street mob are now watching it enviously.

"America, however, has emerged as the world leader in developing clean energy technologies." Well, you could have fooled me on that one: the US was the last major power to even admit that there might be a global warming problem; and they still haven't even signed up to Kyoto! To be fair, they are damned good at rapid development projects.

"There's a lot of money chasing not so many ideas, so the prices are going up fast, raising some concern that this activity by venture capitalists and hedge funds could produce the next dot-com bust" Or perhaps, the renewables bubble?

As ever, where there is a whiff of money to be made, the voracious greed merchants appear to be at the forefront. I just hope that as much effort is put in to making the future climate secure for our children and grandchildren as there seems to being put in to make a fast buck or two.


Anonymous said...

The affects of greenhouse gas ozone, which has been increasing near Earth's surface since 1850, could seriously cut into crop yields and spur global warming this century, scientists reported on Wednesday. For more information about Effects & Causes Of Global Warming

Dave said...

Hi Tom,
Welcome to the Junkk Blog.

We are aware of the inherent risk of low level ozone in terms of its potential to reduce crop yields etc.
We posted something on this back in July - see Ozone