And Now We Know Why T. Boone Pickens Is Smiling Today

T. Boone Pickens

Photo: T. Boone

Let’s do some back-of-the-envelope maths

  • There was just a huge mining disaster in West Virginia.
  • Today there was another (much smaller) mining disaster in Kentucky.
  • In the Gulf there’s an oil spill that some are calling the next Exxon-Valdez.

Add it all up: We’re going to get the big T. Boone Pickens endorsed “Climate” bill, which has nothing to do with climate, and everything to do with subsidizing natural gas.

It’s status in the Senate has been in limbo, but now we think it’s a done deal.

Disagree? Not convinced?

Well consider that natural gas is getting absolutely bludgeoned today — down over 8% — and yet many names leveraged to natural gas are doing great.

A few of the companies that would benefit from the passage of the bill are doing nicely.

  • T. Boone’s own Clean Energy Fuels Corp. (CLNE) is up .75%.
  • Westport Innovations (WPRT), which would be involved in natural gas engines, is up over 4%.
  • Cummins (CMI) which is a partner of Westport is up nearly 3%.

The oil services companies and folks like BP (BP) are getting slammed today, and natural gas (UNG) is a horror show, but those companies that stand to benefit from a big taxpayer gift are doing quite fine. That’s why T. Boone Pickens is smiling.

Don’t miss: Why natural gas investors perpetually miss their big payoff >

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