Sunday, July 13, 2008

Pickens Plan

I intend to learn more about the Pickens Plan in the future. I recommend that you do as well.

As the Dallas Morning News (July 12, 2008) notes, "Yes, America's infatuation with oil made Mr. Pickens rich. Yes, he has significant investments in natural gas and wind power. But the United States must make different and better energy choices. Who better than Boone Pickens to champion this crusade? Sometimes, when money talks, it makes a lot of sense."

Learn More

T. Boone Pickens (Wall Street Journal, July 9, 2008): My Plan to Escape the Grip of Foreign Oil: "How will we do it? We'll start with wind power. Wind is 100% domestic, it is 100% renewable and it is 100% clean. Did you know that the midsection of this country, that stretch of land that starts in West Texas and reaches all the way up to the border with Canada, is called the 'Saudi Arabia of the Wind'? It gets that name because we have the greatest wind reserves in the world. In 2008, the Department of Energy issued a study that stated that the U.S. has the capacity to generate 20% of its electricity supply from wind by 2030. I think we can do this or even more, but we must do it quicker."

USA Today's Dan Reed: Texas oilman T. Boone Pickens wants to supplant oil with wind: "Critics could easily accuse Pickens of advocating a major new public policy initiative that will line his own pockets. He is, after all, a big player in both the wind power and natural gas businesses. Pickens says while his hedge fund will earn money for its investors, earning more money personally is meaningless: 'I'm 80 years old and have $4 billion. I don't need any more money.' He's more concerned that his efforts to make reducing foreign oil dependency the No. 1 issue on the national agenda will be dismissed by the public and, therefore, by Washington. So he says he's carefully steering his plan clear of partisan bickering."

The Independent's Leonard Doyle: The texan oil baron and the winds of change [Quoting Pickens]: "This is not about Republicans versus Democrats, he said. This is about saving our country from the ruination of spending $700bn a year on oil imports. Ninety days after the oil hits our shores, it's all burnt up, and we've got nothing to show for it. But they [foreign oil producers] still have our money. It's killing our economy."

No comments: