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Heavily-Contested California Ballot Measures May Benefit Clean Energy Fuels Corp, CLNE
This fall, Californians will vote on two ballot measures related to alternative energy generation, Proposition 7 and Proposition 10. Although measures encouraging alternative energy generation would seem to be a no-brainer in California, these measures have received a lot of opposition from smaller alternative energy companies and environmental groups.
Proposition 7 would require utility companies to generate half of their power from renewable sources by 2025. On the face of it, that seems like a great idea, but as MSN MoneyCentral notes, smaller green energy companies "say it could force them out of business because the mandate would exclude small-scale projects such as rooftop solar-electric systems."
Proposition 10 provides money for rebates when consumers purchase cars that run on alternative fuels, such as natural gas, methane, electricity and propane. It would also provide rebates for people who buy hybrids and other highly efficient vehicles. Clean Energy Fuels is one of the primary sponsors of the bill. The company owns natural gas re-fueling stations and is owned by Texas oilman T "Boone" Pickens, who proposes replacing electricity generated by natural gas with wind power and then using natural gas to power cars.
However, Clean Energy Fuel’s public policy director, Todd Campbell, says that while Proposition 10 will "create a market for low-carbon fuel vehicles, I don’t think it’s a given that Clean Energy is going to cash in. I wish it were that simple."
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