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Texas oilman gives more than $10 million to alternative fuels bond measure
03:24 PM CDT on Saturday, October 18, 2008
SACRAMENTO -- Billionaire Texas oilman T. Boone Pickens has now contributed more than $10 million to an alternative fuels bond initiative on California’s November ballot.
Pickens’ company, Clean Energy Fuels Corp., gave another $3 million to the campaign for Proposition 10 on Thursday, boosting its total donations to $10.75 million.
That vastly outweighs some $60,000 in donations opponents of the initiative have raised, mostly from the California Federation of Teachers and the California School Employees Association.
Proposition 10 would authorize the sale of $5 billion in bonds to give rebates of up to $50,000 to buyers of vehicles that run on alternative fuels and to pay for research and production of alternative-fuel vehicles.
Pickens’ company provides natural gas for those vehicles.
Inside KHOU.com
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