Wednesday, August 13, 2008

Gee, so Pelosi has personal reasons to support Picken's plan

But what benefits one piece of the Pickens puzzle benefits them all. The wind venture, as Pickens himself acknowledges, depends on permanent federal subsidies.

Pickens is banking on ‘em. And Pelosi’s banking on him.

As reported on, Speaker Pelosi bought between $50,000 and $100,000 of stock in Pickens’ CLNE Corp. in May 2007 on the day of the initial public offering:

“She, and other investors, stand to gain a substantial return on their investment if gasoline prices stay high and municipal, state and even the Federal governments start using natural gas as their primary fuel source. If gasoline prices fall? Alternative fuels and the cost to convert fleets over to them becomes less and less attractive.”

So A: Pickens is counting on tax dollars subsidizing his plan and B: Pelosi is pushing a plan she has a big financial interest in. Kind of like Feinstein was on a board that awarded contracts to the family business.

'More ethical' my ass.

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