There's more to this story. Potentially billions more...
Presidential hopeful Mitt Romney confirmed his belief in man-made global warming last week during a town hall meeting in New Hampshire. Though not a popular stance with conservatives, Romney was not shy is his statement.
"I believe the world is getting warmer, and I believe that humans have contributed to that," he said. (Reuters)
Though not the first time Romney has planted his feet firmly on the side of progressive global warming hysteria, this may be the nail in the coffin for his second run at the White House if the news media investigates the real reason for his theory.
Most news outlets and political pundits are talking about Romney's "belief in man-made climate change" but there is a more practical explanation for his affection for Mother Earth.
Romney has a financial stake in the success of climate change legislation.
Since 1977, Romney has been employed by or been CEO of the consulting firm Bain & Company or its spinoff Bain Capital which Romney co-founded in 1984. Bain & Company and Bain Capital LLC are profitable to the tune of billions of dollars and have offices all over the world.
Connections between the Bain companies and the "green" agenda are astounding.
The Bain & Company website boasts the consulting firm's expertise in the nonprofit and public sector and states, "Experts agree that climate change and environmental degradation must be tackled on a global scale."
No doubt their expertise came in handy at the World Economic Forum where Bain offered insights on "Clean energy technologies" and a "low-carbon energy mix by 2050."
Though not controversial for a consulting firm to be interested in conserving energy, the Bain Company seems to have a particular affinity for carbon credit trading, which would have occurred on the Chicago Climate Exchange, had the Cap and Trade bill passed last year. (Learn Obama's involvement here.)
A confidential report entitled "Green Strategies in Oil and Gas" prepared by Bain & Company describes energy efficiency as the "strongest impact on new capital projects... when combined with climate change initiatives."
The report created for the use of a client boasts, "Most energy-efficiency projects are attractive because of their own intrinsic economic equation, but others can become more attractive when associated with the generation of carbon credits."
Bain & Company has also worked in conjunction with the Chicago Climate Action Plan, Verdantix - Green Quadrant Climate Change Business Consulting, and even partnered with the Blackstone Group and NBC (whose parent company is GE) in 2008 to purchase the Weather Channel. The Blackstone Group is currently invested in carbon trading in the Czech Republic and other nations.
Romney is clearly loyal to Bain and Company and their client initiatives. Does that mean a President Mitt Romney would put Cap and Trade legislation be back on the table?
Romney will face former Minnesota Governor Tim Pawlenty for the GOP nomination and could potentially see Minnesota Congresswoman Michele Bachmann if she decides to run as well.
Please learn more about what carbon credit trading is by watching this video: CCX Part 1
To learn more about Cap and Trade, the CCX and the Goldman Sachs connection, click here.
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