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Bill Gates invests in ethanol

Smart move

Bill Gates seems to want a piece of the action when it comes to renewable energy. The billionaire’s investment company, Cascade Investment, has agreed to invest $84 million in Pacific Ethanol which will help it finance construction of several planned fuel-additive plants on the West Coast. Cascade’s investment gives Gates a 27% stake in Pacific Ethanol.  Gates will be sharing the company with petroleum distributor SC Fuels, which owns the majority stake in the ethanol producer and is one of its biggest customers. It could be a lucrative investment, since federal law requires that the U.S. nearly doubles the amount of ethanol it uses annually to 7.5 billion in 2012 from 4 billion gallons in 2006.

More here

For background on ethanol as a solution to the “peak oil” non-problem, see here

Posted by jonjayray on Monday, November 21, 2005 at 10:06 PM in Economics & Finance
Comments (8) | Tell a friend

Comments:

1

Posted by onetwothree on November 21, 2005, 10:50 PM | #

since federal law requires that the U.S. nearly doubles the amount of ethanol

“Smart move”?  How “smart” do you have to be to invest in a market that a socialist regime is manipulating?

2

Posted by Kubilai on November 21, 2005, 11:34 PM | #

Bill wasn’t exactly the investment and innovative oracle that he was hoping to be after Microsoft, was he?

3

Posted by Lurker on November 22, 2005, 04:16 AM | #

Gates isnt stupid but we have to reflect that he was incredibly lucky regarding MS-DOS and exploited IBMs oversight to the max. That was the pivotal moment for him, nothing else has come close to that.

4

Posted by Svigor on November 22, 2005, 03:13 PM | #

I don’t know how smart Gates is, but my guess is any flashes of brilliance he has come to him postmarked “ruthless business” not “inspired innovation.” 

I do know he’s not a moral man.

5

Posted by Al Ross on November 22, 2005, 09:33 PM | #

Mr Gates believes he can solve some of Africa’s mutifarious problems by donating large sums of his charitable foundation’s money to medical efforts in that continent. I believe his wife has influenced his decision and I marvel at the misplaced racial altruism at work here. I am tired of listening to liberals droning on about capitalists ‘giving something back’ - as if taking a risk on providing goods, services and employment ( not to mention the payment of taxes on the rewards thereof )werent enough.

6

Posted by Fran on July 12, 2009, 08:02 AM | #

Its always easier to critisise that to DO something.
He is a brilliant man, but just as everyone else, not right everytime.

7

Posted by Fred Scrooby on July 12, 2009, 10:39 AM | #

Gates wants to continue making money hand-over-fist by replacing whites with low-wage Hindus.  We can all think of ways to make money by wrongdoing but we don’t act on it.  In most regards we’re not allowed by law to act on it.  In a properly run world, a world where men like Gates couldn’t bribe lawmakers, Gates would also be kept in line by the law.

That’s all that’s going on.

8

Posted by Q on July 12, 2009, 08:24 PM | #

Bill Gates and his wife, Melinda, are typical ‘Competitive Altruists’.

http://amren.com/ar/2003/10/index.html#cover

http://amren.com/ar/2003/11/index.html#cover

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