Pelosi And Pickens, Investment Partners

This little tidbit from the Washington Examiner serves to highlight the fact that Nancy Pelosi may be illegally invested in T. Boone Pickens’ windfarm and that she may be using her power as Speaker of the House to influence the outcome of that business venture.

[I]n May 2007, Pelosi invested between $100,001 and $250,000 to purchase public common stock in Pickens’ Clean Energy Fuels Corporation (CLNE). Pelosi’s CLNE investment was first highlighted by the Michigan Taxes Too Much and #don’tgo blogs.

CLNE is a cog in Pickens’$6 billion plan to build a massive wind farm in west Texas and to switch millions of vehicles on American roads from gasoline to natural gas. Pelosi’s CLNE purchase is listed on her most recent congressional personal financial disclosure form, which can be viewed at Opensecrets.org.

A search of Pelosi’s official web site found no announcement of the investment in the Pickens operation. A request to the Speaker’s official spokesman yesterday for information about the investment went unanswered. Coincidentally, Pelosi’s investment came the same month as the House passed the Honest Leadership and Open Government Act of 2007, which she hailed as making the Congress over which she helps preside “the most open and honest in history.” There are numerous ways Pelosi could provide assistance to CLNE and Pickens, including helping secure federal tax advantages. Pickens expects at least 15 percent profits on the wind farm and associated initiatives. At CLNE’s $14 per share value, Pelosi appears to own between 7,000 and 17,000 shares.

And as I noted earlier, this is a story that needs to be investigated even further since Pelosi’s refusal to bring domestic oil drilling up for a floor vote could spur a large profit on those CLNE shares.

I believe Nancy Pelosi is engaged in illegal activity and should resign her office.

You can access the complete article on-line here:

Pelosi and Pickens, Investment Partners
The Washington Examiner
August 18, 2008

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