New FTC Rule Could Apply To Pelosi
Posted on Wednesday, August 13th, 2008
UPDATE: Look for MORE BREAKING news on Pelosi’s investments and on CLNE itself……SIGN UP FOR UPDATES to stay informed!!!
Pelosi and Pals Could Be Hoisted On Their Own Petard!
Under pressure from federal lawmakers concerned about high energy prices, the U.S. Federal Trade Commission proposed a rule prohibiting petroleum-market manipulation, giving the agency authority to levy fines of up to $1 million per violation a day.
Pelosi, who owns stock in CLNE, a company founded by T Boon Pickens and LIBERAL activist WR Hambrecht, stands to make MILLIONS on an $50,000 to $100,000 investment which may include anywhere from 3,000 to 22,000 shares, depending on the price she paid (we are efforting that now).
Here is a sense of perspective.
Current Price: $14.70
Open: $14.28
Previous Close: $14.27
Volume: 450,279
Market Cap: $632.13M
During the INITIAL offering, before the stock was offered in public, the stock was sold to a select group of investors for $3.86 per share, and this amounted to around 125,000 shares. Pelosi made her purchase on the day the stock was offered, which makes one suspicious that she was able to get the stock at the lower price. Her close ties to Hambrecht, a liberal activist who gives $80,000 per year to liberal causes, make one suspect that she had to have been in on the offering but we cannot prove this.
Here is what is irrefutable. The company is valued at $632 MILL but if it succeed in its Proposition 10 proposal for California, it would increase its value at least tenfold and if the Pickens Plan, which calls for hundreds of BILLIONS of dollars, goes through its value could be increased a hundredfold! No matter how you slice it, Pelosi would WANT Proposition 10 AND the Pickens plan to succeed seeing as how she stands to gain $1 million to $10 million from the deal and for a woman who is “only” worth $25 million this is nothing to sneeze at.
Pelosi’s manipulation of the market is of a most decisive kind, she is using the excuse of “saving the planet” to refuse to allow the market, and not a central panning committee or government, to determine what kind of energy is produced where. Pelosi is using the power of the Speaker’s chair, using the rhetoric of a green warrior, but by all appearances she is acting as the handmaiden of the Pickens Plan for her own gain.
A lesson in ethics is a good thing:
DEPARTMENT OF THE NAVY CODE OF ETHICS
Key References: Title 5–Administrative Personnel Chapter XVI–Office Of Government Ethics Part 2635–Standards Of Ethical Conduct For Employees Of The Executive Branch–Table of Contents Subpart A–General Provisions Sec. 2635.101; Employees’ Responsibilities under Executive Order 12674 (as amended).
DO
• Place loyalty to the Constitution, the laws, and ethical principles above private gain.
• Act impartially to all groups, persons, and organizations.
• Give an honest effort in the performance of your duties.
• Protect and conserve Federal property.
• Disclose fraud, waste, and abuse, and corruption to appropriate authorities.
• Fulfill in good faith your obligations as citizens, and pay your Federal, State, and local taxes.
• Comply with all laws providing equal opportunity to all persons, regardless of their race, color, religion, sex, national origin, age, or handicap.
DO NOT
• Use nonpublic information to benefit yourself or anyone else.
• Solicit or accept gifts from persons or parties that do business with or seek official action from DOD (unless permitted by an exception).
• Make unauthorized commitments or promises that bind the government.
• Use Federal property for unauthorized purposes.
• Take jobs or hold financial interests that conflict with your government responsibilities.
• Take actions that give the appearance that they are illegal or unethical.
William Collier
The American Communicator
Special to The #Dontgo Movement
When the speaker of the house is an inside trader at the best, and has committed outright fraud and thief of taxpayer money as this indicates at the worst, some say kick her out of office. I say hang her on the nearest lamp post on the street. If she’s tried in a court of law she will excape punishment on a diminished mental capacity plea.
Scrapiron,
“I say hang her on the nearest lamp post on the street.”
That kind of comment can be used against us. This is the type of stuff the left says… not us. Let’s just be careful when making this kind of comment on a public forum where it can be copied and pasted, and then used against us.
-Eric
keep the info coming, good work William
Whereas I agree with the lamp post thing on an emotional level, Eric is correct. What we should do is try to get her impeached but, there is only a few months remaining and if Cindy Sheehan manages to get elected over Pelosi, that would be poetic justice enough for me.
Great piece!! Thank you William.
Two very important questions:
Will the FTC acknowledge what is so obvious to us: that Ms Pelosi is in fact manipulating the market for her personal financial gain?
And if they do, well the FTC act with integrity and levy its $1 million/day fine against her??
Danger Girl, THE Danger Girl, you’re a bonny lass but methinks the likelihood of the FTC holding Picken’s Wench accountable is equal to the likelihood that the government will agree to a “Tax Holiday” for Americans!
Clean Energy Fuels Corp. (Clean Energy - Symbol CLNE) is a provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The Company offers a solution to enable customers to run their fleets on natural gas. It designs, builds, finances and operates fueling stations, and supplies customers with compressed natural gas (CNG) and liquefied natural gas (LNG). The Company also helps them acquire and finance natural gas vehicles, and obtain local, state and federal clean air rebates and incentives. The Company serves fleet vehicle operators in a variety of markets, including public transit, refuse hauling, airports, taxis, seaports, and regional trucking. It generates revenues primarily by selling CNG and LNG, and to an extent by building, operating and maintaining CNG and LNG fueling stations.
Don, do you have any NEW news?
T. Boone Pickens supports offshore exploration and drilling. The heart of his Pickens Plan is to free up Natural Gas by replacing the 22% of electricity provided by Natural Gas Electrical Generation with large scale Wind Turbine Electrical Generation. Clean burning Natural Gas could then be used as a vehicle fuel to bridge the surface transport sector to electric cars or other technologies.
Don,
Pickens has said, over and over in his commercials, “we can;t drill our way out this.”
Can you cite specifics where he actively supports offshore drilling and etc??
Bill
[...] …[click here to read the full post]… [...]
Follow the Money…
They sent Martha Stewart to prison for a whole lot less. An interesting article on Pelosi’s stock market shenanigans and what she has to gain by keeping the price of oil high…….
New FTC Rule Could Apply To Pelosi : #dontgo Movement…
Under pressure from federal lawmakers concerned about high energy prices, the U.S. Federal Trade Commission proposed a rule prohibiting petroleum-market manipulation, giving the agency authority to levy fines of up to $1 million per violation a day. T…
[...] New FTC Rule Could Apply To Pelosi [...]
Wouldn’t it be poetic justice if Madame Speaker, Pelosi met the same fate as the one she tried to levy against President Bush, and she were to be impeached?
Is the echo chamber even turned on?
Smapdi, and this answers the substance of the report how?
The people who want a big government and a planned economy know that their ideology is totally unacceptable to the people, so they resort to these kind of illogical statements.
Bill
From Bill: “Danger Girl, THE Danger Girl, you’re a bonny lass but methinks the likelihood of the FTC holding Picken’s Wench accountable is equal to the likelihood that the government will agree to a “Tax Holiday” for Americans! ”
LOL!! True, but a girl can dream…….even a ‘danger” girl :>)
Okay here’s where the message gets confusing: T.Boone has in fact said he does support offshore drilling as a means to get off of foreign oil dependency:
CNN -The Situation Room :
Pickens reveals that his oil drilling past sometimes still rises to the surface…Even if most of the time he says we can’t drill our way to energy independence.
Wolf Blitzer: “What about drilling offshore? There’s a debate, as you know, McCain says, ‘yes, go ahead and drill off the coast of Florida and California.’ Obama says, ‘No.’ You’re an oil man. What do you say?”
T. Boone Pickens: “OK. McCain says, ‘OK off the east and west coast.’ I say east, west coast and ANWR—get it all! To get off of foreign oil, that is the enemy…You’re drilling and whatever you are able to find and put into the domestic system will help us.”
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BUT now let’s look at this from a Reuters piece dated August 15, 2008
http://www.stuff.co.nz/print/4657120a6026.html
Pickens said oil prices may drop even further, to US$110, sometime in the next few weeks, but won’t dip below US$100, and that the price will dog the United States for decades unless it adopts a plan and sticks to it. The United States dropped ambitious plans for solar and wind power after petroleum prices fell in the 1980s.
“In the past that’s what happened when the price went down, all the plans stopped,” he said.
HEDGE FUND
While Pickens’ plan may be holding strong as the wind industry grows, all of his investments in the old energy economy may not. Pickens’ hedge fund BP Capital, which manages about US$7 billion in assets, sank about 35 percent in July as it took a beating on oil and natural gas bets, according to a report this week in the New York Post.
He has hedged his bets, however, and stands to benefit from the plan. He’s building a US$10 billion wind farm in Texas that should start generating power by 2011. He’s also invested in a company that converts cars to run on natural gas.
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I ‘ll leave it up to each person to draw their own conclusions, but suffice to say his touting of wind power is tainted by the truth: he stands to profit financially ONLY if gas prices remain high!!
Pickens investment in wind power is HUGE, and if oil prices drop, then he fears that Americans will become complacent, and no new energy plan that incorporates alternatives, will come to pass. ( See above quote from Reuters piece)
As Such, with a $2 Billion dollar investment in a Windpower plant - the higher you keep the gas prices - the more pain Americans feel and the more likely Congress will be forced to push through an alternative energy bill. Now if you have the Speaker of the House invested in CLNE, then you present YOUR energy bill to her, and she can gather support from a “gang of ten”…..ding ding ding…….”Boone-Doggle”!!!
But hey - I leave other to draw their own conclusions!!!
It is a typical strategy: sound bite the way you want to be heard, but ACT in your interest.
Is Pickens demanding that congress lift the bans on drilling?
Pickens is funding proposition 10 in ca and sidling up to people like Pelosi, he lets her do his dirty work (it’s called “plausible deniability.”
Bill
[...] Pelosi and pals COULD be hoisted on the own petard if new rules THEY pushed go into effect. [...]