Energy Roundup: T. Boone Pickens, British Energy and EDF, Dems Roll Over on Offshore...

(MoneyWatch)  T. Boone Pickens loses big in market turn -- Billionaire oil man, T. Boone Pickens, author of the "Pickens Plan" to get the U.S. out of the pocket of foreign fossil fuel producers, apparently took a wrong turn in the oil market that has cost him some $1 billion. "Well, that's about it. We missed the turn, and when you miss the turn at the level we operate, well, it is going to be expensive," Pickens is reported to have said. [Source: Reuters]
Oil and gas strike it rich in government hand-outs, study finds -- A new study by the consulting firm Management Information Services Inc. (MISI) shows that the bulk of the $725 million in energy incentives the fed has doled out over the last five decades have benefited oil and gas. [Source: San Antonio Business Journal via PR Newswire]

Democrats cross over to offshore drilling -- Feeling the pressure from constituents over gas prices and acquiescing to a key Republican demand to allow passage of a stopgap spending bill to keep the government from coming to a halt, House Democrats have agreed to end a ban on offshore drilling. [Source: The Sun-Sentinel]

France goes nuclear on Britain -- The French firm EDF is poised to take over British Energy in a deal worth 12.4 billion quid ($23.1 billion). British Energy operates the U.K.'s eight nuclear power plants. Many Brits are expected to protest, as Britain's nuclear future will be handed over "to a company owned by the French state." [Source: BBC]
Senate supports renewables -- The U.S Senate has approved a bill extending the investment tax credit for various renewable energy sources, with an emphasis on solar. The solar tax credit, supposed to expire at the end of 2008 -- and which amounts to 30 percent installation cost for residential and commercial properties -- is to be extended for eight years if signed into law. [Source: Motley Fool]

Morgan Stanley heads for Atlantis -- Bucking the meltdown trend, financial services giant Morgan Stanley is doing business (almost) as usual, receiving a stake in tidal-power firm Atlantis Resources. Atlantis is acquiring fellow tidal innovator Current Resources, owned by Morgan Stanley; the Wall Street firm gets a slice of Atlantis as part of the deal. [Source: StrategyEye Cleantech]

GridPoint acquires V2Green to charge electric cars ?€" GridPoint, a smart-grid provider, has acquired V2Green, a start-up that provides software to help charge electric cars. GridPoint said it raised $100 million from Goldman Sachs, New Enterprise Associates, Robeco, Susquehanna International Group, and Quercus Trust, with an additional $20 million is expected later. [Source: CNET Green Tech]