Monday, February 05, 2007

Cheney's own investment manager sends assault on U.S. energy policy to clients

Vice President Cheney's own investment manager, Jeremy Grantham, has emailed his clients -- including the Vice President -- a scatching attack on US energy policy, reports Monday.

"While America Slept, 1982-2006: A Rant on Oil Dependency, Global Warming, and a Love of Feel-Good Data," Grantham's jeremiad is reportedly a mordant critique of US energy policy over the past two decades -- a period in which Cheney steered one of the largest energy concerns in the world: Halliburton, and set secretive energy policy with industry executives in the White House. Excerpts of article follow:

"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)."

As for Massachusetts Institute of Technology professor Richard Lindzen, who appears everywhere to question global warming, Grantham mocks him as "the solitary plausible academic [the skeptics] can dig up, out of hundreds working in the field."


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