Hypocrisy A Common Theme For Public Figures
The Dynamic Wealth Report
February 25, 2010
by Justin Bennett, Editor
I’ve seen a lot in the news about global warming recently. It’s
impossible to watch the news or read a newspaper without seeing
something about it.
According to government leaders, our planet is on a collision course with
disaster.
Gradually rising temperatures will alter our climate in a devastating
way. Ocean levels will rise, sinking low lying countries. Warming
temperatures will turn parts of the world into drought stricken
wastelands. And, other parts of the world will be flooded by record
rainfall.
The cause… human activity.
Decades of burning fossil fuels the culprit. Our leaders say we need to
change our actions to avert this global disaster. Limiting emissions of
carbon dioxide (CO2) is at the top of the list.
Now, I’m not one to say scientists supporting this view are wrong. I’m
not a climate scientist. I haven’t done the tests. I haven’t
reviewed the data. Maybe they’re right. Nobody knows for certain.
But here’s what really makes me mad…
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Our government leaders don’t practice what they preach! They’re telling
us to change our ways... Yet they do the same thing they’ve always done.
For example, New York Governor Michael Bloomberg recently said “global
warming in the long term has the potential to kill everybody".
This is the same guy who flies all over the US in a private jet.
Wait a minute… a private jet is the most inefficient and polluting means
of air travel available. Private jets use huge amounts of fuel relative
to the number of passengers they shuttle. CO2 emissions per passenger
are drastically higher than normal commercial flights.
It’s not just in the U.S... The number of politicians flying by private
jet to the recent United Nations Climate Change Conference in Copenhagen
numbered in the 100s. Denmark’s airports were overrun with private
jets.
If that’s not irony I don’t know what is…
Ever hear the saying, “Be the change you wish to see in the world.”
Clearly our government leaders haven’t!
If government leaders really want to bring about “change”, they should
lead by example. I’m sure there were plenty of commercial flights going
to Copenhagen. Yeah, I understand they have busy schedules. A commercial
flight may not be as convenient.
But you know what?
People will always come up with excuses for not making a change. And,
public figures are no different. To make a real and lasting impression
on us “common folk”, officials should be making a huge effort to do
things differently.
Planning their trips on a commercial flight would be one small step in
the right direction.
So what does this have to do with trading and investing?
Well, my gripes don’t have much to do with trading and investing. That’s
just me venting.
But there are many companies involved in the green revolution…
Take Ormat Technologies (ORA) for example. They’re a leader in the
geothermal energy industry. Geothermal energy is the extraction of heat
stored in the earth. It’s a reliable, sustainable, and environmentally
friendly source of energy.
To be sure, geothermal energy is still in its infancy…
Many factors will influence the development and acceptance of this
technology. But politicians and other public figures should take notice…
because at least it’s a step in the right direction!
Financial Select Sector SPDR (XLF) is up over 85% in
the last 12 months. The group is being led higher by JP Morgan
(JPM), Bank of America (BAC), and Wells Fargo
(WFC), which are the top holdings in the fund.
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