Cheney's Fund Manager Attacks ... Cheney
The oil-based energy policies usually associated with Vice President Dick Cheney have just come under scathing attack. There's nothing remarkable about that, of course -- except the person doing the attacking. Step forward, Jeremy Grantham -- Cheney's own investment manager.
"What were we thinking?' Grantham demands in a four-page assault on U.S. energy policy mailed last week to all his clients, including the vice president.
Titled "While America Slept, 1982-2006: A Rant on Oil Dependency, Global Warming, and a Love of Feel-Good Data," Grantham's philippic adds up to an extraordinary critique of U.S. energy policy over the past two decades.
What Cheney makes of it can only be imagined.
"Successive U.S. administrations have taken little interest in either oil substitution or climate change," he writes, "and the current one has even seemed to have a vested interest in the idea that the science of climate change is uncertain." Yet "there is now nearly universal scientific agreement that fossil fuel use is causing a rise in global temperatures," he writes. "The U.S. is the only country in which environmental data is steadily attacked in a well-funded campaign of disinformation (funded mainly by one large oil company)."
That's Exxon Mobil (XOM) .
The oil-based energy policies usually associated with Vice President Dick Cheney have just come under scathing attack. There's nothing remarkable about that, of course -- except the person doing the attacking. Step forward, Jeremy Grantham -- Cheney's own investment manager.
"What were we thinking?' Grantham demands in a four-page assault on U.S. energy policy mailed last week to all his clients, including the vice president.
Titled "While America Slept, 1982-2006: A Rant on Oil Dependency, Global Warming, and a Love of Feel-Good Data," Grantham's philippic adds up to an extraordinary critique of U.S. energy policy over the past two decades.
What Cheney makes of it can only be imagined.
"Successive U.S. administrations have taken little interest in either oil substitution or climate change," he writes, "and the current one has even seemed to have a vested interest in the idea that the science of climate change is uncertain." Yet "there is now nearly universal scientific agreement that fossil fuel use is causing a rise in global temperatures," he writes. "The U.S. is the only country in which environmental data is steadily attacked in a well-funded campaign of disinformation (funded mainly by one large oil company)."
That's Exxon Mobil (XOM) .
http://tinyurl.com/32fyo3
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posted by Dan at 9:24 AM
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