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'Pickens Plan' promotes wind, natural gas

MarketWatch - Jul 8, 2008

T. Boone Pickens on Tuesday laid out his "Pickens Plan" to reduce American dependence on foreign oil, with the target of cutting demand by more than a third in the next two years.

The colorful Texas billionaire, a former corporate raider and oil man turned hedge-fund manager, said wind power and natural gas could take up the slack as a viable alternative to spending $700 billion a year for foreign oil.

Pickens is building a mammoth wind farm in Sweetwater, Texas, and also launched Clean Energy Fuels, a company that runs natural-gas filling stations for fleet vehicles.

Pickens also said he's lobbying to have the Texas-sized price tag for foreign oil become a central theme of the presidential election between Sens. Barack Obama, D-Ill., and John McCain, R-Ariz.

Read Full Article from MarketWatch

- Posted: 2008-07-08 21:26:29


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