Pelosi Stands to Benefit from Pending Clean Energy Legislation

Kevin Glass | December 14, 2011 3:47 PM

With all the attention on the potential for insider trading reform on Capitol Hill, it's strange that there would be so many lawmakers ignoring the scrutiny. Yet a pending clean energy bill on Capitol Hill certainly represents the possibility of a windfall for Minority Leader Nancy Pelosi.

Dan Indiviglio reports:

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.

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 Speaker Pelosi's part.

Insider trading in Congress needs to be stopped. Luckily, it looks as though steps are being taken. The Homeland Security and Governmental Affairs Committee sent a bill to the full Senate today containing ethics reforms that would put curbs on the practice. Hopefully, the House will follow the Senate's lead.