On a local radio station this morning, I heard them mention a guy by the name of T. Boone Pickens. They mentioned that he has a plan to move our country away from oil and start using more renewable resources like natural gas and wind energy. I decided to do a little more research and found out more about him and what his plan is.
T. Boone Pickens is an American entrepreneur that was born in Holdenville, Oklahoma. He attend the Oklahoma State University and graduated with a degree in geology. After working for a petroleum company for several years, he founded Mesa Petroleum. He grew his company by acquiring smaller oil companies and became one of the largest independent oil companies. Since then, he has founded BP Capital Management, a company that originally ran two hedge funds largely vested in oil and natural gas companies. Currently, his company runs the BP Capital Energy fund that owns large portions in Suncor Energy (Sunoco), ExxonMobil and Occidental Petroleum.
According to his website http://www.pickensplan.com, he wants to reduce our dependency on foreign oil by replacing it will cleaner sources, like natural gas. He also wants to start investing in wind farms throughout the mid-west. Areas ranging from North Dakota down to Texas have some of the highest wind speeds throughout the country.
His plan seems really nice, but what is his motivation for it? It seems that he only has interest natural gas and wind energy to make more money. For the moment though, nobody really knows for sure what his true intentions by proposing this plan. He has even paid for a tv commercial to advertise his plan where he has said “I’ve been an oilman my whole life, but this is one emergency we can’t drill our way out of”.
He said in his commercial that he will be release more details in the coming weeks. I will keep an eye out for any new details about his plan.