Tuesday, December 1, 2009

T. Boone Pickens

T. Boone Pickens, the founder and chairman of BP Capital Management, began a campaign called the Pickens Plan to promote energy investment and oil and gas conservation. This project began back in July of 2008 as a plan to make the United States energy-independent. There are two parts to his plan: to encourage the use of renewable resources, like wind and solar power; and to make natural gas a widely used fuel for transportation. No legislation has been passes yet, but bills have been written for the issue waiting with the legislature. It has been forty years and there still has not been a potentially usable energy plan for the country; Pickens says this is because of leadership not fully understanding the issue of energy and the existence of cheap oil. He plans to go after the 18-wheelers which use a large amount of diesel fuel and replace the fuel with natural gas, a more environmental- and financial-friendly substitute. Pickens estimated a good seven years to cut OPEC in half.
Pickens believes the US gets involved in out-of-country business for gas and oil, interfering with its international relations The US is importing oil from its enemies, which can look good to them but not to the states. Only thirteen friendly OPEC countries exist to the US. When we buy oil and gas from the enemies, we are practically paying for both sides of the war. There are enough resources in American to fix the problem though. The security issue needs attention, and foreign oil imports should be reduced.

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