Monday, August 18, 2008

Nancy Pelosi, Al Gore and T. Boone Pickens Walk Into a Bar (CLNE)

Swiftboating? Never happened! Or the ads were true but all is forgiven. Or the ads were false but all is forgiven. Or The O'Jays nailed it*.
Al Gore's Generation Investment Management owns 10.5% of the seller, Camco International.
T. Boone Pickens is the control shareholder of the buyer Clean Energy Fuels.
Speaker Pelosi was an IPO investor in CLNE.
From the Dallas Business Journal:

Owner of Dallas landfill gas processing plant is acquired

Natural gas company Clean Energy Fuels Corp. has acquired Dallas Clean Energy

LLC, a company that owns and operates a landfill gas processing plant at the City of Dallas’s McCommas Bluff landfill.

Seal Beach, Calif.-based Clean Energy Fuels (Nasdaq: CLNE) purchased Dallas Clean Energy from New Jersey-based Camco International Ltd. for $19.1 million in cash. The company made the transaction, knowing the City of Dallas landfill will close in 2042, leaving enough waste product and mineral rights to produce biogas from the breakdown of organic matter for an additional 30 years. Clean Energy Fuels financed the transaction through a $30 million credit facility with PlainsCapital Bank in Dallas....MORE

Earlier, earth2tech completely confused me with:

...Clean Energy Fuels is using $19.1 million in cash from Channel Islands-based renewable project developer Camco International for the purchase, as well as a $30 million credit facility from Dallas-based PlainsCapital Bank to help with both the acquisition and future capital investments in the landfill....
I realized e2t's staff needs sleep and a raise. Mr. Malik?

The O'Jays: