Soros to Invest $1 Billion in Clean Energy, Form Advisory Group

[Joanne98]

Source: Bloomberg


Oct. 11 (Bloomberg) -- Billionaire George Soros, looking to address the “political problem” of climate change, said he will invest $1 billion in clean-energy technology and create an organization to advise policy makers on environmental issues.

Soros, the founder of hedge fund Soros Fund Management LLC, announced the investment in Copenhagen yesterday at a meeting on climate change sponsored by Project Syndicate. The group is an international association made up of 430 newspapers from 150 countries.

“I want to apply rather stringent criteria to the investments,” said Soros in an e-mailed message. “They should be profitable but should also actually make a contribution to solving the problem.”

Soros, whose own wealth accounts for much of the approximately $24 billion his New York-based money-management firm oversees, didn’t provide any details in his speech on the type or scope of investments he might make.

Soros, 79, also will establish the Climate Policy Initiative, a San Francisco-based organization to which he will donate $10 million a year for 10 years.



Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aMU3BkV3yqPU

[azul]

1. It's just good business.

Beginning to make obvious dollars and sense, finally, to counter the oil madness shouted from the gun-barrels.

[thefairone]

2. The wingnuts will have you believe that Soros is a mean bad boy

But he's done a lot for those who need help the most.

[The Second Stone]

7. Soros is hated and despised by the wingnuts

because he is rich and disagrees with them. They despise all people they disagree with, but extra special when they are rich. Might I add that they hate Warren Buffet too.

[jwirr]

3. And hopefully where Soros goes so go the other investors.

[mother earth]

4. The man is no fool, he knows where to invest & he does so

for the right reasons and it's not always about money, unlike the right wingnuts who love to slam him. People watch him & take his lead.

[earcandle]

5. Thank you, Mr. Soros! My community appreciates the funds!

Let me know if I can help!

[flamingdem]

6. Soros proves you can be a capitalist and a humanist

but there aren't many like him..

[Babyserendip]

8. DO NOT BE FOOLED - "alterative energy" is a scam in the sense....

....that there are DEFINITIVE SOLUTIONS to our energy needs that NO ONE IS TALKING ABOUT BECAUSE THEY ARE NOT CAPITALIST PURSUITs.

By definitive I mean it will WIPE out all other competing energy industries/technologies by breaking the scarcity of energy dynamic that underpins every other energy technology that does not provide abundant energy - that being all of the current proposals - which all just happen to fit nicely into the capitalist system of scarcity based economics.

As you noticed, Soros says he will invest in those that are "profitable". Get it??? Any definitive solution to global energy security WILL NOT BE PROFITABLE....as it will be government owned because of the fact it wipes the industry given it must be based on a solution that provides energy abdunance....WHICH IS A VERY GOOD THING.

The ONLY ....THE ONLY practical and well known solution....that NO ONE is YET TALKING ABOUT......is.....>IONOSPHERIC RESONATION.

Learn more at www.energystate.org

www.energystate.org

[Seeking Serenity]

9. I don't trust George Soros

Yeah, he may be on our side now and funding things we like now, but I believe that if it would profit him to turn against all that, hed do it in a heartbeat without a pang of guilt. He broke the Bank of England, where a lot of working people had their savings, so he alone could make a ton of money.

I don't trust him any further then I could throw him, and I think progressives would do well to keep him at arm's length and keep a wary eye on him.