Thursday, March 16, 2006
Believe in Global Warming? - Prove It
According to many in academia, and supposedly almost all climatologists, global warming is a certainty, it is caused by humans, and we need to take draconian measures to stop it from occurring. I think there is a way to determine how much faith these scientists and those who apologize for them trust their own judgment. Lets ask them to provide us with their combined investment portfolios.
I suspect that we will see them investing in all the same things the rest of us invest in. Top stocks, emerging companies, beach property. Some of the really socially concerned will probably be avoiding some companies that they think are contributors to greenhouse gasses or who are not making any effort to curb same.
Others might be putting a few dollars into companies that make things or consult about environmental issues. Thus, if the noise is loud enough, and if enough politicians and others buy into the scare tactics, these kinds of companies will flourish. But making things are giving advice about things that curb greenhouse emissions is not the same thing as betting on global warming. It is betting on people being scared about global warming.
No! I will be a believer when the leaders of the movement start moving their money out of stocks and property that might be adversely effected, should their models turn out to be right, and into stocks and properties that will benefit.
Anybody care to guess if these true believers believe enough to put their money where their mouth is?