Pelosi and Pickens pair up to profit on energy

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Winningreen Energy Alert 

By Gretchen Randall

Date:  August 21, 2008

T. Boone Pickens’ energy plan to use wind power from West Texas for our electricity and natural gas for transportation has found a huge supporter in Speaker of the House Nancy Pelosi (D-CA).  In financial disclosure statements, Pelosi reportedly purchased between $50,000 and $100,000 of stock in Pickens’ company, Clean Energy Fuels Corporation, in 2007.

On the California ballot this fall is Proposition 10 which asks California voters to approve a $5 billion initiative to fund consumer incentives to purchase natural gas cars and in the end benefit Pickens’ company because Clean Energy is the largest supplier of natural gas for transportation there.   Voters may balk at the plan since the state is already facing a deficit of $15 billion.

Pickens is also lobbying Congress to adopt his plan to build transmission lines from his wind farms in the Texas Panhandle where he has invested $2 billion.

Comment: When Pelosi says she’ll allow a vote on opening up more areas to drilling in the U.S., look for the bill to also include tax breaks for alternatives such as Pickens’ wind and natural gas plants which will raise the price of her Clean Energy stock.

Comment: When fat cat Democrats call for redistribution of wealth they apparently mean our wealth, not their wealth.

Contact: Gretchen Randall
Winningreen LLC
3712 N. Broadway – PMB 279
Chicago, IL 60613
Phone: 773-857-5086