Pickens and Sperling Bankroll Alternative Energy Ballot Initiatives in California. By Chris Bowman, Sacramento Bee, September 15, 2008. "Two of the world's richest men, [T. Boone Pickens and Apollo Group's Peter Sperling,] are bankrolling alternative-energy propositions 7 and 10]… on the November ballot [in California, and] each is opposed by some of the very champions of those alternatives... Proposition 10 promises to accelerate California's shift away from gasoline to... [most notably,] natural gas. The measure would authorize $5 billion in bonds to help companies and consumers buy fuel-efficient or alternatively fueled vehicles… Clean Energy Fuels, [run by Pickens,] of Seal Beach, the nation's largest supplier of natural gas for transportation, provided most of the $3.75 million raised for the initiative... Sperling has no apparent financial gain due him after pouring $3 million into Proposition 7... [which, according to Craig Noble of the Natural Resources Defense Council]... 'was put together by people who don't know what they're doing; they don't understand California's clean energy policies, laws and markets'... Proposition 7 would require California's utilities to get at least half of their energy from renewable sources such as wind, solar and geothermal by 2025 [and] tilts heavily toward solar... hence [the nickname,] 'Big Solar.'"
2008-09-16
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