NATGAS Act Would Provide Subsidies For Cars on Natural Gas
Pickens gain would be at the expense of everyone who uses natural gas, which will spike in price if demand increases. Primary among natural gas users is the fertilizer industry. One of the world's largest fertilizer sellers is Koch Fertilizer, a subsidiary of Koch Industries. Charles and David Koch, above right, have led the resistance to the NATGAS Act.
According to Clean Energy Fuels:
"Our business plan and the ability of our business to successfully grow depends in part on the extension of the federal fuel excise tax credit for natural gas vehicle fuel, the reinstatement and extension of the federal income tax credit for the purchase of natural gas vehicles and the passage of legislation providing for additional incentives for the sale and use of natural gas vehicles."All of the above provisions are in the NAGAS Act.
Pickens owns options to buy 15 million shares of Clean Energy Fuels at $10 per shared, according to SEC filings. Those options expire Dec 28. If Congress couls pass the NATGAS ACt this month, shares of Clean Energy would skyrocket. If the bill does not pass this moth, those options might become worthless, or at least risky. (Washington Examiner, 12/10/2011)