CO2 Is Green

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This article is part of the Center for Media & Democracy's spotlight on front groups and corporate spin.

See Plants Need CO2 for more information.

CO2 Is Green is the 501(c)(4) companion to 501(c)(3)Plants Need CO2, running media advertisements pushing a "More CO2 is good" message.[1]. According to its Certificate of Formation [2], the group's directors are spokesman (and EOG Resources Director) H. Leighton Steward, Wyatt Hogan, and coal baron Corbin J. Robertson, Jr., who "is said to own more coal through his various ventures than anyone outside of the U.S. government."[3]

2009 founding: $752k stock purchase and $752k income

Both groups were founded in mid-2009. Curiously, this organization 2009 income of $752,800[4] is within $10 of director Leighton Steward's $752,807.30 purchase of EOG Resources stock on June 3, 2009[5], the week after the first of the two groups' domains was registered.[6]. (As the purchase does not appear to have been a stock option exercise[7], it's unclear why the two amounts would match; an explanation has been requested.[8].)

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References

  1. ↑ Anne C. Mulkern (2010-07-14). Ads Backed by Fossil-Fuel Interests Argue 'CO2 Is Green' -. NYTimes.com Greenwire. Retrieved on 2011-03-27. “The organization "C02 is Green" funded a half-page advertisement in The Washington Post urging people to call their senators and seek a vote against "the president's cap-and-trade bill that will increase your cost of living and not change the climate.”
  2. ↑ Certificate of Formation of CO2 Is Green, Inc, filed Jul. 20, 2009 with Texas Secretary of State; filing #801149434, tax ID 32039951440
  3. ↑ Mary Ann Azevedo (2007-09-09). Energy fund drills in new 'direction'. Houston Business Journal. Retrieved on 2011-03-27. “Hugh Roy Cullen, who was dubbed "arguably Houston's most famous oilman" by Texas Monthly in 2005, founded the now-defunct Quintana Petroleum in 1930. Today, Corby Robertson -- Cullen's grandson -- is said to own more coal through his various ventures than anyone outside of the U.S. government (see "Cullen heir nabs huge lumps of coal," Dec. 8, 2006). Besides his role with Quintana Energy Partners, Robertson also serves as president of Quintana Minerals Corp., CEO and chairman of publicly traded Natural Resource Partners LP, and chairman of Quintana Maritime Ltd., a Nasdaq-traded bulk shipping company.”
  4. ↑ "gross receipts" from its 2009 IRS Form 990, Guidestar.org, EIN 27-0586701
  5. ↑ Weekly Top Insider Buys: American Express Company, EOG Resources Inc., American Water Works Company Inc., Genworth Financial Inc., and Strayer Education Inc.. GuruFocus.com. Retrieved on 2011-04-05. “Director of EOG Resources Inc., H Leighton, Steward bought 10,230 shares on 6/03/2009 at an average price of $73.51.”
  6. ↑ plantsneedco2.org Record created on 26-May-2009
  7. ↑ [1]
  8. ↑ Email sent to Leighton Steward 2011-04-05

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