This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Menendez' Bill Could Have Aided Donor's Investment

By early 2010, when Melgen formally joined GFS, Menendez had already taken on a key role in backing the natural gas bill, joining Democratic Senate Majority Leader Harry Reid of Nevada and Republican Sen. Orrin Hatch of Utah as out-front sponsors.

The NAT GAS Act quickly drew energy and environmental battle lines. Oil and alternative energy magnate T. Boone Pickens led corporate natural gas industry backers of the bill, aided by the Obama administration and influential environmental groups. Arrayed against the bill were top oil and coal firms and even some green activists, joined by industrialists David and Charles Koch, whose political action group, Americans for Prosperity, harnessed opposition from conservative groups.

Green said he did not authorize or hire any lobbyists on behalf of GFS because he was skeptical about broadening into the markets for on-road trucks. But he did not block the activities of Muller, who in addition to his consulting role with GFS, had also started his own firm, Diesel 2 Gas. It aimed to license GFS technology and use the firm's parts to outfit on-road trucks.

In June 2010, representing both GFS and Diesel 2 Gas, Muller testified before an EPA panel in Ann Arbor, Mich., about what he called "cumbersome and unnecessary" rules that hurt GFS and other natural gas firms. The EPA agreed to alter its regulations in April 2011.

Between 2009 and 2011, Muller also ran an independent consulting firm, Muller Group Inc., which paid $220,000 to lobbyists from Brownstein Hyatt Farber Schreck LLP to lobby for the NAT GAS Act and related issues.

Muller said he accompanied the lobbyists in at least one meeting with Menendez' staff about the bill but could not recall details. Melgen and Muller joined Menendez at a signing ceremony in Miami in January 2010 for the senator's book, "Growing American Roots." And last June, they joined Menendez at the annual U.S.-Spain Council Annual Forum in Jersey City.

5 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs