Pelosi will profit from Obama-Waxman-Markety cap-and-trade energy bill

Wash Examiner ^ | 6/25/09 | Mark Tapscott

[pissant]

House Speaker Nancy Pelosi has vowed to bring the Obama-Waxman-Markey (OWM) anti-global warming cap-and-trade energy bill to the floor for a final vote Friday, which raises an interesting question: How much money will Pelosi make if the measure becomes law, as seems quite likely?

Pelosi, of course, is not the only member of Congress to own significant shares of energy companies. Senators and representatives from all over the country do, not just the "oilies" from energy states like Texas, Oklahoma and Louisiana.

But as House Speaker, Pelosi's ownership of an unknown number of shares in the Clean Energy Fuels Corp. (CLNE) valued at between $15,000 and $50,000, may deserve particular attention.

Shares of CLNE have gone up and down in value in recent years, thanks to the fluctuations in the price of natural gas and changes in the oil industry worldwide. And a Pelosi spokesman told The Washington Examiner last year that her husband takes care of their stock portfolio, so she has no knowledge of how any of her family investments will be affected by any particular piece of legislation before Congress.

Another prominent public figure with an interest in OWM is CLNE's major domo, T. Boone Pickens, best known of late as a wind-energy investor and the man behind the largest-ever single donation to a state university, $165 million to Oklahoma State University for its athletic programs three years ago. CLNE is a cog in Pickens massive plan to create a giant wind farm in West Texas to generate electricity.

[pissant]

Imagine that. The dingbat is looking out for her own profits.

[freekitty]

Yeah, wouldn’t you know their pensions are not enough. sarc/

[lgjhn23]

Yeah. And these turds get the best healthcare in the world....for free.
and We have to pay for it.

[hoosiermama]

[hoosiermama]

You are aware that Nanzi had a closed meeting to set this up so she could bring it to a vote on Friday..

TAKE ACTION ..

Here are numbers to call ASAP.

Capitol Switchboard: 202-224-3121

Tole free capital switchboard number are below.

800-828-0498

877-762-8762

List of all congressmen here and their individual phone numbers

http://clerk.house.gov/member_info/mcapdir.html

[kara2008]

Shocking!.../sarc

Will she make hundreds of millions of dollars through the marketing/trading of emission credits like her buddy Al will?

You can bet that there are loads of congress critters who will make huge profits from this bill if it is passed. It's sick to think that the looter politicians would have no qualms in contributing to the destruction of America for the right price via C(r)ap and T(i)rade legislation....

[bray]

She’s worth $100 Million but has no idea what her husband is invested in. If you believe that Bridge/sell.

Pray for America

[Tuscaloosa Goldfinch]

It’s interesting that Artur Davis is on the list of “opposed”. He’s running for governor here, so I bet Obama game him a pass....

[Bhoy]

Why are politicians allowed to vote on legislation that impacts their own wealth? Isn’t that conflict of interest? Why do people in Congress leave with more wealth than when they started? How can that not be illegal? How can that not be a bretrayal of trust? Why do we let it happen?

[steelyourfaith]

 

Beam me to Planet Gore !

[freekitty]

That really makes me mad and all the pensions we pay for too.

[hosepipe]

Wondered what would happen when the Marxists took over the federal government... the colleges...hollywood.. and the main stream media..

Barry Half-White is crooning baby baby to American women that are generally ditz's.. with high sounding platitudes and other nonsense..

Can the Civil War be far off?.. or is america too cowardly to have one?..

[Ben Ficklin]

I will give this author credit for at least mentioning that Pelosi is not the only one invested in oil and gas. When the original story came out on the Don't Go Blog, many months ago, it was as if she was the only one.

Its a good example of right wing mis-info and how it replicates.

Originally, the article appeared on Don't GO. The author, as he indicated on the blog, then started a thread at FR, and emailed the story to Maulkin and Rush. Maulkin immediately started another thread at FR then wrote and article, published at another website, which was also posted as a thread at FR. Rush ranted for a half day about it. And of course the the story exploded into the right wing media echo chamber. If you follow the source link on this article, it leads you to another source link, which leads you to another source link which eventually leads you in a circle

As for the investment, if you look at the financial disclosure forms of the elected and their wives, you see that republicans are much, much more likely to be invested in oil and gas than democrats, and Texas republicans especially.

And if you look at the dollar amount, compared to others, it is relatively small.

If you look at the dollar amount, relative to her total portfolio, it is small.

Then, if you consider how oil and gas is divided into upstream, midstream, and downstream, her investment is more akin to owning stock in a chain of convenience stores or a propane dist.

When you point the finger at Pelosi over this, then you are opening the door for those pointing the finger Senator Gramm's wife for serving on the board at Enron or VP Chaney's wife for serving on the board at Union Pacific Resources.

Certainly I'm not here to defend Pelosi, but stuff like this makes republicans look like ignorant fools.

Especially since the original story was part of an attempt to destroy Pickens because he said "we can't drill our way out of it".

[shove_it]

Thanks for the ping. A $15 to $50k investment is a drop in the bucket for Pelosi; I was surprised to learn of the small amount. A higher price for natural gas is unfavorable to CLNE whose important advantage is a cheaper alternative to gasoline and diesel transportation fuel.

[Ben Ficklin]

I strongly suspect that you have more invested in CLNE than Pelosi. A lot more.

[shove_it]

Chuckle...I'm a little fish in the range toward the bottom. These two stocks (CLNE) and (WPRT) have been real volatile, so I'm playing them as trading opportunities rather than investments along with some others. If I recall correctly, Nancy got in about the same time Boone's wife sold her position in CLNE, which was around the all time high - $19ish. Mrs. Pickens is a far smarter investor than Mrs. Pelosi by a long shot; she sold several hundred thousand shares at that price as I recall.