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merriefollowshare
4-28-2009 6:20 AM
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merrie says:
In mid-2008 — six months after Gore joined the venture capital firm of Kleiner Perkins as a partner — Kleiner Perkins joined Goldman Sachs in financing a company called Terralliance — an oil exploration firm!

As Fortune reports,

Kleiner’s dirtying its hands in the oil patch was something of a head-scratcher. Back then the firm had recently hired Al Gore as a partner. But money is money, oil was trading for $140 a barrel, and Terralliance was said to have developed software that reduced the risk of drilling dry holes. It looked as if Terralliance could be a moneymaker for Kleiner, which had sunk a total of $65 million into the venture, an extraordinary sum for a VC firm — possibly its biggest single investment ever.

But less than one year later, Terralliance has faired poorly, burning through hundreds of millions of dollars, according to Fortune.

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4-28-2009 6:23 AM
merrie
Transcript of Rep. Steve Scalise-Al Gore exchange during the April 24, 2009 House Energy and Environment Subcommittee hearing on the Waxman-Markey climate bill.
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