Don’t you just feel like a sucker sometimes?
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