Vote No On Prop. 10 – T. Boone Pickin’ Your Pocket
October 23, 2008 by Johnny California
Filed under Ballot Propositions
Another horrendous energy law funded by a billionaire. This one is funded by T. Boone Pickens, who, as you can probably tell by his name, is a Texas oil and natrual gas tycoon.
Prop. 10 asks Californians to approve $5 billion in bonds. $2 billion goes to various green energy projects. About $3 billion of the money goes to giving Californians rebates on their hybrid or alternative energy vehicles. Don’t get too excited — only the first 55,000 hybrid car buyers get a $2,000 rebate.
If you really want to cash in you need to buy a natural-gas powered vehicle. If you buy a natural gas powered car, you’ll get a $5,000 rebate. If you buy natural gas-powered car or truck, you’ll get a $50,000 rebate for each truck you buy.
Sounding ridiculous right? It’s not ridiculous if you’re T. Boone Pickens. Ya see, Mr. Boone Pickens owns Clean Energy Fuel Corp which is the nation’s largest provider of natural gas transportation fuels in north America and owner of natural gas filling stations. If Prop. 10 passes, people go out and buy natural gas cars and trucks, California funds the rebates and everyone fills their cars and trucks with natural gas they bought from Mr. T.Boone Pickens. Jackpot for Mr. Boone Pickens!! Rip-off for California!!
The Los Angeles Times also points out that Prop. 10 will do nothing to help the environment.
Nothing in the initiative says these trucks have to remain in California. So the day Proposition 10 is enacted, buyers will line up to purchase natural gas trucks, drive them to Nevada or some more sensible state, resell them and collect the $50,000-per-truck rebate as pure profit, courtesy of California taxpayers. The environmental gains for the state? Zero.
The Johnny California Editorial Board recommends a NO vote on Proposition 10
Why is the California Democratic Party playing neutral on Prop 10? Can you tell me what kind of politics my party is playing with this, literally,”the key to the hen house” for Pickens? I am a serious Democrat and I am mad and disappointed in my party and would like to give them all the attention that they deserve on this one if necessary.
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I thought Chesapeake Energy was the largest producer of natural gas in America…
CEFC is the nation’s largest provider of natural gas for transportation in NA, but not the largest producer.
I’m not saying prop 10 is a perfect prop, there are issues for sure. But providing incentives to move away from foreign oil and towards US made natural gas is a good deal. Anything that helps is good in my book.
If you don’t like prop 10 then you’re going to hate an Obama Presidency as well… because he’ll champion more and more of this sort of change.
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