How Nancy Pelosi Will Make Obscene Windfall Profits If Energy Prices Remain High

“Culture of corruption.” Sound familiar? Two years ago Nancy Pelosi promised to clean it up. Instead, she has been adding her own filth to the cess pool and she has been looking to T. Boone Pickens to help her do it. Apparently, the big reason for her not allowing an up or down vote on domestic drilling is because if that particular energy bill passes, then she stands to lose a great deal of money. However, if she can prevent that vote from taking place, she stands to gain a huge windfall.

This is a story that isn’t going to go away no matter how hard Old Media tries to bury it. It can’t be done. The scenes and the action have been out in the public spotlight for too long for anyone in the Dem party to deny it. In fact, I think what Pelosi is doing is worse than John Edwards having an affair.

Nancy Pelosi is profiteering and using her power as Speaker of the House to ensure her monetary gains!

Yes, I said it. I think that this is more than enough to demand that Nancy Pelosi resign as Speaker of the House and to resign her Congressional seat as well. For her to remain would be to foster the culture of corruption that she knowingly and willingly takes part in.

Michelle Malkin breaks the story in her latest column over at TownHall

House Speaker Nancy Pelosi recently called congressional Republicans who want up-or-down drilling votes “hand maidens of the oil companies.” Let’s call Pelosi what she is: House girl of the Big Wind boondogglers.

Though she seemingly backtracked on labeling drilling a “hoax” this week, Pelosi refuses to consider GOP energy proposals that don’t include massive government subsidies for so-called eco-alternatives that have never panned out.

Which brings us to Madame Speaker’s 2007 financial disclosure form. Schedule III lists “Assets and ‘Unearned Income'” of between $100,001-$250,000 from Clean Energy Fuels Corp. — Public Common Stock. Clean Energy Fuels Corp. (CLNE) is a natural gas provider founded by T. Boone Pickens. Yep, that T. Boone Pickens — former oilman turned wind-power evangelist whose ads touting a national wind campaign are now as ubiquitous as Viagra promos.

Pickens and Pelosi share the same talking points downplaying the need to drill and open up more access to American oil. Instead, the Pickens pie-in-the-sky plan proposes to replace natural gas with wind power in power generation and theoretically free up natural gas for America’s transportation needs.

T. Boone Pickens has been on so many radio and TV commercials that everyone knows what his business is all about.

So, what’s so bad about that? Read on:

Naturally, the Pickens Big Wind plan is proudly endorsed by Do-Nothing Pelosi’s friends at the obstructionist Sierra Club. Through another company, Mesa Power, Pickens has committed upward of $12 billion in wind farms on the Texas panhandle. CLNE and Mesa Power are separate entities, 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 is banking on him.

As reported on dontgomovement.com, Speaker Pelosi bought between $50,000 and $100,000 worth 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 become less and less attractive.”

CLNE also happens to be the sponsor of Proposition 10, a ballot initiative in Pelosi’s home state of California to dole out a combined $10 billion in state and federal funds for renewable energy incentives — namely, natural gas and wind.

Follow the money. Or, to put it in economist’s terms as energy analyst Kenneth Medlock III did in an interview with The Dallas Morning News about the Pickens multibillion dollar wind farm investment: “A lot of what he’s trying to do is add value to a stranded asset he’s obviously got millions of dollars on the line.”

This is why she has been working to prevent a vote on a domestic drilling bill. The higher energy prices go, the more money she and T. Boone Pickens stand to make together at the expense of the American consumer and taxpayer.

This is not only untheical but also immoral. Nancy Pelosi promised us an open, corruption-free government, and all she did was use it to her own personal advantage and add to the corruption.

She needs to respect the dignity of her office and resign.

You can access the complete column on-line here:

Pelosi And The Big Wind Boone-doggle
Michelle Malkin
TownHall.com
August 13, 2008


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