Linswritings

Posts Tagged ‘t boone pickens

Well maybe not in bed with them but she certainly has a lot of money invested in Clean Energy stock – like $100,000! According to an article in Town Hall by Kevin Glass, Ms. Pelosi stands to benefit from pending clean energy legislation.

Recently, there has been attention called to the potential for insider trading on Capitol Hill. Mr. Glass points out that “A fuel subsidy proposal, if passed, would enrich Representative Nancy Pelosi because of her stake in a “green” firm that stands to benefit. Oil tycoon T. Boone Pickens owns a big slug of the company and has been on a campaign advocating for the legislation. The billionaire is oddly aligned with Pelosi, though her stake is smaller. The Democrat’s asset disclosure indicates she owns as much as $100,000 of Clean Energy stock. And earlier this year, she listed the NATGAS Act as one of the priorities for her “Make It In America” agenda.”

So it seems that Ms. Pelosi stands financially ready to reap the rewards of increased natural gas subsidies. Even without the questionable utility of the bill, this is certainly a moral failing on former Speaker Pelosi’s part.

This type of insider trading in Congress needs to be stopped. Recently, the Homeland Security and Governmental Affairs Committee have sent a bill to the full Senate containing ethics reforms that would put curbs on the practice. Perhaps the House will follow the Senate’s lead?

But then with all of the crony capitalism going on in Washington, I’m sure our honorable congress people will find a way to “grandfather” some of their deals and make them not apply.

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