Monday, July 14, 2008

T. Boone Pickens's Energy Plan.

Texas billionaire businessman T. Boone Pickens has some interesting ideas about dealing with America's energy crisis. I wish both John McCain and Barack Obama would spend a few minutes talking to this man. He has some ideas that I think would really do America some good. Check out these videos below, and then his website at www.Pickensplan.com.

America needs some real leadership, visionary leadership on this issue. And it's long overdue.

T Boone Pickens TV commercial. (1 min, 2 sec)

T. Boone Pickens explains his plan. (4 min, 49 sec)

2 comments:

thinker said...

I like the wind farms in his ideas, but trying to move transportion to natural gas just gives everyone another fence to jump over when we start importing it in large volume as we do now with oil. I happen to live in southern Oregon where they are trying to putting in a large natural gas pipeline that will reach from the middle of the Oregon coast to the central part of the USA so that we can easily transfer imported natural gas.

Also, Picken's is also a business man. His plan will make him even richer as you has a substantial investment in natural gas in addition to his oil investment. If we move to natural gas, his income soars. Here is a clip from Wikipedia:

"In 1997 Pickens founded BP Capital Management (then called BP Energy Fund) — the initials standing for "Boone Pickens" and not related to British Petroleum. 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.[10] 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.[11]"

One of our best resource though is geothermal followed by solar. We have vast geothermal opportunities in this nation although most vehicles require fossil fuels. If we can move them to electric/hydrogen, then we will be able to use wind, solar and geothermal as well as nuclear to power our transprotation was well. We could then use even natural gas (if we have enough without importing) to generate the power, at least the cars will be able to use it if they go electric.

JayRay said...

Have you seen what he's doing in West Texas? Not so admirable.

http://www.citizen.org/cmep/Water/us/bulksales/texas/