As evidence mounts that the global warming scare is a farce and climate change is not caused by carbon dioxide, anyone who invests alternative energy is taking a huge chance of throwing their money down a hole according to Daniel Rice.
Rice, who is the best performing equity fund manager of the past 10 years, cites data from meteorologist Dr. Judah Cohen showing that patterns of warming have reversed themselves over the last 10 years. In managing his BlackRock Energy and Resources mutual fund, he’s also looking at the growing backlash against the theory that carbon dioxide is responsible for changes in the climate.
“[Y]ou’d better hope global warming is caused by man-made [carbon dioxide] if you’re investing in these sectors,” he says. “I think that’s a huge risk based on some of the evidence that’s been coming out.”
Rice sees no economic reason for investment in alternative energies, and doesn’t think that the “Cap and Trade” bill currently being shoved through Congress does much but buy Barack Obama a little favor among global warming alarmists.
The cap and trade legislation currently being debated is “not enough to do anything,” Rice says. “All it does is provide Obama a pass to Copenhagen” where the U.N. is hosting a climate change conference in December.
Now that facts have conspired against the global warming alarmists, look for the backlash against the junk science used to make man-made global warming to grow. A petition to stop the global warming madness has been signed by over 31,000 American scientists, over 9,000 of whom hold PhDs.