Cheney's banker attacks his policies

Andrew Buncombe
Wednesday 07 February 2007 01:00

The investment manager who looks after an estimated $5m (£2.5m) of Vice-President Dick Cheney's money has criticised America's energy policy.

In an email to clients - presumably Mr Cheney among them - Jeremy Grantham rails against the country's refusal to confront climate change.

"The US is the only country in which environmental data is steadily attacked in a well-funded campaign of disinformation," writes Mr Grantham, whose comments were revealed by the website

Of George Bush's call to replace 20 per cent of petrol with ethanol, Mr Grantham says: "US corn-based ethanol, as opposed to efficient, Brazilian sugar-based ethanol, is merely another US farmer-protection programme, made very expensive both directly and indirectly by inflating real agricultural prices."

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