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Former Oilman T. Boone Pickens Taps Wind Power, Natural Gas to Replace Foreign Oil
He made his fortune as an oilman, but yesterday (Tuesday) legendary investor T. Boone Pickens unveiled a plan to cut U.S. dependence on foreign oil through the power of alternatives such as wind and natural gas.
“We’re paying $700 billion a year for foreign oil. It’s breaking us as a nation, and I want to elevate that question to the presidential debate, to make it the No. 1 issue of the campaign this year,†Pickens said, USA Today reported.
Pickens launched a Website titled “Pickens Plan,†which went live yesterday, to outline what he calls a “bridge to the future†to help cut…
9Jul2008 | Money Morning | Comments Off | ContinuedFormer Oilman T. Boone Pickens Makes a $2 Billion Bet on Alternative Wind Energy
T. Boone Pickens made his fortune in oil. But now the Dallas oilman and famed former corporate raider is betting $2 billion that he can have the same success with a new source of energy – wind.
Pickens’ Mesa Power LLP yesterday (Thursday) unveiled the first phase of an eventual $10 billion alternative energy project that has the potential to become the world’s largest wind farm.
“You find an oilfield, it peaks and starts declining, and you’ve got to find another one to replace it,” Pickens, who once operated one of the largest independent oil-and-gas production companies in the country, said of…
16May2008 | Money Morning | Comments Off | Continued
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