Gallery: Al Gore Compares Investing in Oil and Gas to Subprime Mortgage...

 

Former U.S. Vice President Al Gore — a continuous warrior for the environment — said yesterday in an interview that current investment in the oil and gas industry is not that dissimilar to the subprime mortgage crisis. Moreover, he believes that the industry could collapse within the decade. Gore’s statement came in conjunction with a five point plan from Generation Investment Management LLP (the investment group Gore helped found with a former Goldman Sachs Group executive) entitled “A Manifesto for Sustainable Capitalism”. The plan outlines a long road forward for the investing world that if adopted could fundamentally change the current environment. Aside from moving investors away from carbon intensive stocks, the five point plan lays out a world where investors are rewarded for sticking with companies for the long haul. This plan will not only reduce the stress of achieving gains in the short term, but will allow companies to focus their plans on more sustainable gains over the long term.

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