George Soros, a billionaire investor and major backer of President Obama, stands to reap a windfall from legislation promoting natural gas-powered vehicles. The White House unveiled a proposal on Thursday that would do just that.
would offer incentives for companies to buy and use trucks powered by
natural gas. Obama announced the effort at a UPS facility in Las Vegas
that received stimulus funding to buy natural gas vehicles and build a
fueling station for them.
The proposal is remarkably similar to the New Alternative Transportation to Give Americans Solutions (NAT GAS) Act.
One company that stands to benefit handsomely from the president’s
proposal is Westport Innovations. The company converts diesel engines to
be fueled by natural gas. Wall Street analysts predicted a boom for the
company if the NAT GAS Act were passed. CNBC analyst Jim Cramer said he
“expects shares to absolutely explode” in the event the legislation were to pass.
If Westport reaps the predicted windfall, one of the chief beneficiaries
will be George Soros, a major Obama donor and supporter. Soros’s hedge
fund holds 3,160,063 company shares (as of its last SEC filing). (More)