Gore warns Wall Street of ‘subprime carbon’ industry!

http://thinkprogress.org/2008/02/15/gore-warns-wall-street-of-%e2%80%98s...

In remarks before a “high-profile business crowd,” Al Gore compared the financial risks facing investors in carbon-based industries with the meltdown in the house market for subprime mortgages given to people with blemished credit records or low incomes. Gore said:

You need to really scrub your investment portfolios, because I guarantee you — as my longtime good redneck friends in Tennessee say, I guarandamntee you — that if you really take a fine-tooth comb and go through your portfolios, many of you are going to find them chock-full of subprime carbon assets.

The assumption that you can safely invest in assets that come from business models that assume carbon is free is an assumption that is about to go splat. … You have lots of assets, many of you do, in your portfolios right now that truly do deserve that epithet “subprime.”