Risky 'green' investments could put Sierra Club in the red
By: David Freddoso
Commentary Staff Writer
12/10/09 11:28 AM EST
High electrical bills this winter? You don't have to look far for someone to blame. The Sierra Club volunteers to take the blame with this gleeful announcement that it has killed 100 coal-fired power plants nationwide.
But if green energy is such a great investment, then why is a hundred-million-dollar donor to the Sierra Club Foundation informing his favorite charities that they might have cost him his shirt, and that therefore he will be curtailing his gifts for the time being?
David Gelbaum, a major donor to the Sierra Club Foundation, the American Civil Liberties Union and an organization that provides services to military personnel, said he would cut donations next year because investments in alternative-energy firms have "placed me in a highly illiquid position."
Gelbaum, who had been an anonymous donor, revealed himself so that his beneficiaries would know to seek new sources of funding this year. Link
It’s more than a little ironic that one of the Sierra Club’s biggest donors will not be able to give them money this year because of the person’s investments in renewable energy. The Sierra Club recklessly advocates polices that will cost hard working families a lot of money in increased energy costs. This time, however, it seems that it has come back to bite them. ~TH