If you are selected for the Rangel, your acceptance of the fellowship will be communicated to the Pickering program (I think that they may just send a list of all of the year's new fellows soon after selection). With this, your Pickering fellowship application would be pulled from the process. If you choose to reject the Rangel (? lol), then your candidacy in the Pickering would continue. However, Pickering finalists are selected after Rangel winners are chosen, so you wouldn't know that you were a Pickering finalist before you received notification from the Rangel and had to accept or reject. They'll tell you all of this at your finalists interview as well :-D
