House Minority Leader Nancy Pelosi (D-CA) has pushed for a piece of legislation that would directly enrich her financially. Pelosi owns a major stake in a company that would likely see its share prices rise significantly if the legislation is passed.
The bill is called the New Alternative Transportation to Give Americans Solutions, or “NAT GAS,” Act, and Congress is rushing to consider it before adjourning for the year. The legislation would subsidize vehicles powered by natural gas and the refueling infrastructure needed to make those vehicles feasible.
Energy tycoon T. Boone Pickens has been the bill’s most vocal supporters – unsurprising, given one of his holdings will profit handsomely from the legislation. The Washington Examiner’s Tim Carney detailed Pickens’ financial interests in the NAT GAS Act in a column last week:
In a filing with the Securities and Exchange Commission, Clean Energy Fuels admits it is subsidy-dependent: “Our business plan and the ability of our business to successfully grow depends in part on the extension of the federal fuel excise tax credit for natural gas vehicle fuel, the reinstatement and extension of the federal income tax credit for the purchase of natural gas vehicles and the passage of legislation providing for additional incentives for the sale and use of natural gas vehicles.” That’s all in the NATGAS Act.
While Pickens, a longtime oil and gas man, has been lobbying for natural gas subsidies for decades, his cause has become particularly urgent this month. Pickens owns options to buy 15 million shares of Clean Energy Fuels at $10 per share, according to SEC filings. Those options expire Dec. 28. If Congress could pass the NATGAS Act this month, shares of Clean Energy would skyrocket.
Pelosi’s stake in Clean Energy Fuels is significant, if smaller than Pickens’. According to her asset disclosure forms, “she owns as much as $100,000 of Clean Energy stock,” reported Reuters.
The Democratic leader included the NAT GAS Act in her “Make it in America” initiative, billed as an effort “to revitalize manufacturing in America, create new good-paying jobs, and make our nation more secure.”
Congressional “insider trading” has become a major issue since being extensively reported in a new book by Hoover Institution fellow Peter Schweizer. Pelosi has been one of the worst offenders.
says nat gas not an emitter of carbon??
Could this be true? Nancy P benefiting from legislation???
Typical. Throw the bums out!
Exactly! No more subsidies – period. End of message.
Kinda reminds me of the no-bid contracts given to Haliburton while Cheney held onto those stock options. I guess whether it's right or wrong (and they're both wrong) depends on which side of the table you're sitting.
Solution – throw everyone in DC out, and start from scratch with 2-term limits for every elected official.
Which American would feel safe to drive one of those "natural gas" fueled cars WITH the extreme danger of being in a wreck? Does anyone think that they would blow up? Fires to kill drivers in any area near it. May even burn homes near a wreck. If even escaped gas into the air, would be worse to breathe than the usual pollution that they are so concerned about.
Do you have a gasoline powered oven inside your home? Of course not, but you may have a natural gas powered oven. Why? Natural gas is generally considered to be less hazardous than gasoline.
Kinda reminds me of the no-bid contracts given to Haliburton while Cheney held onto those stock options. I guess whether it's right or wrong (and they're both wrong) depends on which side of the table you're sitting.
it's funny how the democrats allege republicans the democrats work with are out to kill everyone while the democrats mandate mercury poisonous light bulbs and PERMIT tv sets that emit mercury when they're on! Of course Nancy pelosi, the rich (off the thievery of tax payers) female dog needs all the money she can steal to keep up with all her cosmetic needs. She's a trusting character to the rest of the thieves, cons and cheats corrupting the American government. Republicans handle themselves with much more respect to the people of this country and are responsible when it comes to TRUTH with personal endurance dealing with adult juveniles of the democratic party of America's destruction! Democrats have no respect for the rule, they don't hold themselves accountable and hide behind the republicans. Democrats rather let things go on for their next big crisis they've already prepared to react to. democrats create the means to use their creation for a democratic justifiable end that better people would avoid creating altogether. did that make sense?
heritage: the box came up "sorry there is a connection error?"
Either divest or don't vote. Simple solution.