February 2013: Al Gore invests in fracking company PetroBakken Resources

Don’t you just feel like a sucker sometimes?

Follow The Money

petrobakken-300x300

http://dailycurrant.com/2013/02/25/al-gore-invests-fracking-company/

Former U.S. Vice President and environment advocate Al Gore has closed a deal to make a multi-million dollar investment in a natural gas producer that specializes in fracking.

In a statement to shareholders, Canada-based PetroBakken Resources announced that Gore and his investment partners would be pumping $200 million into the company in return for a 15 percent stake.

The move comes just weeks after Gore sold his shares in cable broadcaster Current to Al-Jazeera, a Middle Eastern channel backed by oil wealth. Both transactions have raised eyebrows because of the dissonance between Gore’s high-profile environmental activism and his investment strategy.

The PetroBakken investment in particular has come under harsh scrutiny because the company develops unconventional resources like shale gas and tar sands, both highly controversial with environmentalists.

“First of all, if I didn’t invest in this company somebody else would,” he explained to anchor Bill McAvoy. “Do you think Mother Nature cares about the shareholding structure of companies…

View original post 535 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s