Why did T Boone Pickens donate to Kerry's Senate re-election campaign in 2002?

[beachmom]

http://www.cabot.net/Issues/CWA/Archives/2008/07/Stocks-to-Benefit-From-Wind-Power.aspx

One thing is for certain--Pickens is nothing if not practical. During the last 40 years, he wasn't tilting for windmills; he was busy building his $3 billion fortune in oil and natural gas-not renewables. And four years ago, he bankrolled the Swift Boat Veterans For Truth campaign against Senator John Kerry, of Massachusetts, who had proposed a wide-reaching renewable energy plan similar to what Pickens is now proposing. (One odd aside to that saga--Federal Election Commission records show Pickens previously had been a repeat contributor to Kerry's senate campaigns--one of the few Democrats he's ever supported.)

The difference, of course, is that Pickens now has a significant interest in shifting policy toward renewables such as wind power and natural gas. He is in the process of building what would be the world's largest wind farm, a $10 billion project spread over 200,000 acres of Texas panhandle and he has accumulated big financial interests in many natural gas-related companies.

Before anyone says it's because he's spreading his money around, that's not true. He has rarely given to Democrats. Also, he is in the hedge fund business, something I did not know:

http://en.wikipedia.org/wiki/T._Boone_Pickens#Career

In 1997 Pickens founded BP Capital Management (then called BP Energy Fund). He holds a 46% interest in the company which runs two hedge funds, Capital Commodity and Capital Equity, both of which invest primarily in oil and natural gas. In 2006, Pickens earned $990 million from his equity in the two funds and $120 million from his share of the 20% fees applied to fund profits.<11> In 2007, Pickens earned $2.7 billion, as BP Capital Equity Fund grew by 24% after fees, and the then $590 million Capital Commodity fund grew 40%, thanks to, among others, large positions in the stocks of Suncor Energy, ExxonMobil and Occidental Petroleum.<12>

http://www.newsmeat.com/billionaire_political_donations/T_Boone_Pickens.php

Look at all of his donations. Kerry received $2000 in 2002 and $1000 in 1999 from Pickens. Other Dems who received money were Markey, Wirth, and a few Dems from TX (no doubt, conservative). But lately he has given nothing to Dems. So, given the most recent period, his donations to Kerry stick out like a sore thumb.

[Mass]

1. When you look throughout the years, he gave money to democrats from time to time,

though the bulk of his money was from Republicans.

Now, I do not know why he gave to Kerry (3,000 $ between 1999 and 2001), but I do not think we will ever know. Neither will we know why he gave to Reid (in 2003). And I am not sure it is that important. I notice Markey and Kerry, and I guess he was already planning to divest in new energy, and these two are big early supporters. That would be my guess.

As for hedge funds, there is no surprise.

[karynnj]

2. I think Mass is right - Wirth and Markey were both Democrats who were involved with global warming

I think Markey was the one who last year "met" with people in Bali by teleconferencing some way. )Wasn't he also the one who went to mass in Rio along with Teresa Heinz. Wirth and his wife were close friends of the Heinzes - per some of the stories when John and Teresa met. Kerry led the fight against drilling in ANWR which was before 2002. That all of them were environmentalist is weird.

I see that Pickens did give money to Shamie (sp - Kerry's 1984 opponent) and to Weld.

[beachmom]

3. No, that is not it. From 1993 to 2008, Pickens only gave to two

Democrats: John Kerry ($3K) and Harry Reid ($1K). Now at least Reid was headed toward the leadership. But Kerry is the polar opposite of everything Pickens believes in. It would be like a Hollywood liberal giving to Inhofe. I can't figure it out. The next time you see a donation to a Democrat was 1993. From 1993 to 1999, there were no donations until the one to Kerry. My point is that Pickens basically stopped giving to Democrats, except Reid and Kerry, with more given to Kerry. I think it is odd. The point is those donations to Democrats were made in a different political cycle.

[Mass]

4. I am not sure where you are getting to. If you think there is something there, tell us what.

May be we will be able to tell you what we think.

[beachmom]

5. Honestly, I have no idea. It's just a classic "matching" game. One looks

different from the other. The normal reasons are that they give to all the potential presidential candidates to sort of cover their tracks, but that is not a pattern with Pickens. He didn't do that for anyone neither prior to the 2004 presidential cycle or after the 2004 presidential cycle.

The second possible reason is maybe some type of business was coming up at the Commerce or Finance committee, and he wanted to give Senators money for influence. But, no, he gave to no one else, and he didn't give enough to really exert influence. So ... that's not it either.

It's just a puzzle, a riddle, that I guess we'll never have answered.

[Mass]

6. I wished people on DU had some brain. Pickens is a businessman trying to get subventions for his

business, not some sort of environmental hero who is there to hurt McCain. Have these people never read where McCain stands on alternative energy: give a lot of money to companies, no string attached.

[ginnyinWI]

7. for this type, the bottom line is always first priority

It's got to be related to money, because these types of people live and breath profit-making 24-7. It's the only way they've gotten ahead.

Likewise with General Electric's new green initiative: it's good for business, both because of public relations boosting and because they can be a jump ahead of the competition. Smart business looks ahead and leads the pack.

I agree, politics isn't important to a businessman except for the profit or loss involved!