George Soros, T. Boone Pickens, Kevin G. Douglas and companies under their control stand to reap the rewards of billions of taxpayer dollars in subsidies contained in a Democratic-sponsored measure set for a vote this week. The legislation, authored by Sen. Robert Menendez (D-N.J.), would amend the much-ballyhooed highway bill to include the New Alternative Transportation to Give Americans Solutions act, or NATGAS act. The act would provide subsidies for individuals, corporations and public entities that purchase natural gas vehicles or build natural gas distribution facilities. The act would subsidize three different enterprises controlled by Soros, Pickens and Douglas, who consistently rank among the most generous political donors, according to Federal Election Commission Records. [snip] The three investors and their affiliates are on record as financially supporting proponents of the NATGAS act, according to FEC reports. Douglas and his wife Michelle have contributed more than $130,000 to President Barack Obama, Democrats and Democratic super PACs since 2009, according to FEC records, including to Nat Gas act supporter Rep. Michael Capuano (D-Mass.). Sorosâ history of Democratic financial support is well known, such as $1.5 million to MoveOn.org from 2003 and 2004. In 2011, Soros gave $175,000 to the House Majority PAC and the Majority PAC, two super PACs whose donations have come mostly from American labor unions, according to FEC records. He has also given broadly to Democratic committees since 2009. Pickens, his wife Madeleine and senior employees of Clean Energy Fuels have contributed more than $150,000 to politicians and committees that support the NATGAS act, according to FEC reports. Pickens and his wife gave $60,800 to House Representatives, including the actâs sponsor, Rep. John Sullivan (R-Okla.) To Senate Majority Leader Harry Reid (D-Nev.) or related committees, the couple has given $20,800. To the Democratic Parties of New Mexico, Colorado and Nevada, all key states for the natural gas industry, the couple has given $30,000. Clean Energy Fuels employees have given a combined $19,750 to congressional representatives who support the NATGAS act, and $10,500 to the Democratic Congressional Campaign Committee, according to a HUMAN EVENTS review of FEC reports. Clean Energy Fuels employees have also given $7,800 to Sen. Reid and $4,400 to Sen. Menendez. http://www.humanevents.com/article.php?id=50163
America SHOULD be promoting natural gas as a transportation fuel... considering its cost and the fact we have an estimated 100 year of ready, domestic supply. To not do so, regardless of the excuse is moronic. Just think... if we had cars and trucks running on natgas... WE COULD STOP SENDING $60 BILLION/MONTH to ME countries... WHO HATE US... some of whom support hatred and terrorism against us!!
True but do we want to single out big democratic donors to give billions in tax breaks? Why not promote natgas without singling out big donors to receive all the taxpayer dollars?
Pickens is as much a "big Dem donor" as the left thinks the rich already pay enough taxes: http://www.followthemoney.org/datab...ens&CurrentType=Contributors&so1=y#sorttable1
If it is such a great idea, why the need for all these subsidies? Here's a novel idea. Someone like Buffett or Pickens use their own money to fund this scheme, then they can make it back honestly instead of encouraging more crony capitalism. How many more Solyndras, Fnms, AIGs, etc do we need?