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Lately, I've been inundated with phone calls from venture capitalists, private equity guys, and hedge fundistas. They're coming to me because I'm their environmentalist friend and they all want to know one thing: how they can make a buck off the surge in interest in combating global warming.
But many of these capitalist converts need watching. While Wall Street's eco-splurge has generated a flood of financing for legitimately clean ventures like wind and solar power, it's also spawned...