Tulsa World: Pickens pitches his plan

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Pickens pitches his plan
A standing-room-only crowd of 800 hears the oilman's energy plans.

Boone Pickens (center) talks to people about his Pickens Plan to reduce the nation's dependence on foreign oil during a town hall meeting Wednesday in McAlester. Shane Bevel/Tulsa World.

By JEFF POSTELWAIT World Staff Writer
Published: 8/14/2008 2:14 AM
Last Modified: 8/14/2008 2:33 AM

A standing-room-only crowd of 800 hears the oilman's energy plans.

MCALESTER — The lack of leadership in Washington, combined with the end of cheap gasoline, has put the United States in an energy situation it must get out of, veteran oilman Boone Pickens said here Wednesday.

Speaking to a standing-room-only crowd of 800 people, the billionaire and native Oklahoman said the problem is clear enough — dependence on foreign oil. Yet, the executive contended that until he introduced his Pickens Plan on July 8, nobody else had come forward with a workable plan to reduce significantly the amount of crude the United States imports.

"We've had no leadership in Washington, from either Republicans or Democrats, on this issue," Pickens said to applause from the crowd. "If you don't solve this problem then you don't have to talk about health care or education or national defense because you've got no money to pay for any of it."

The centerpiece of the Pickens Plan involves supplanting the natural gas used to generate power with electricity from wind turbines, then using the natural gas to fuel vehicles.

While wind and natural gas do the heavy lifting in the plan, Pickens said he is open to any form of energy so long as it comes from the United States.

"I want to use the wind, and I want to use the sun. I want to use everything American," he said. "I am for everything American and I am against foreign oil."

Gov. Brad Henry, who attended the event, touted the oilman's Oklahoma roots. Pickens was born in Holdenville.

"Boone Pickens is a real person, and he's never forgotten where he came from. He knows he is an Oklahoman," Henry said.

Few people are as qualified as Pickens to present a plan to wean the nation off foreign oil, Henry said.

"He's a man who has often been ahead of his time only to later be proved right," he said, adding mention of the millions of dollars Pickens has donated to Oklahoma institutions, including the $400 million he has gifted to his alma mater, Oklahoma State University.

Pickens, who once ran Mesa Petroleum and today is chief executive of Dallas-based hedge firm BP Capital, spelled out the problem as he sees it with regard to where the nation's energy is coming from.

The United States imports 70 percent of its oil from areas outside the country and spends $700 billion a year doing so, the executive said.

He added that he is unimpressed with the plans proposed by Sens. Barack Obama and John McCain in their campaigns for president.

"We imported 24 percent of our oil during the Nixon administration, and at the time Nixon said we'd be off foreign oil soon," he said. "Every president since has said we're going to get off foreign oil."

No matter what form of alternative energy is used, Pickens said, it must be embraced domestically to help bring down the amount of oil the country has to purchase from other countries.

"One candidate said we're going to have 1 million plug-in hybrids on the roads. You've got to get up to 100 million before you start doing any good," he said.

Pickens said he believes natural gas is the right fuel to attract widespread use in transportation, especially in freight trucks and government vehicles.

The CEO said he is not interested in retrofitting the average consumer car for the use of natural gas, but he added that if more natural gas vehicles were available in the American market, people would buy them.

"GM makes 19 natural gas vehicles, but none in America. How about that? That's why they're going broke," he said.

Pickens said he sold the conventional car he was driving to work and bought a Honda Civic designed to burn natural gas, which he fills up at his home. The special Civic cost more than $30,000.

"That's an expensive Honda, but I sold my Mercedes for $70,000," he said.

To free up more natural gas for use in vehicles, Pickens advocates the construction of a massive system of wind farms stretching from the Texas Panhandle to North Dakota.

Calling the Midwest "the Saudi Arabia of wind power," Pickens said the construction of these wind turbines would rejuvenate rural America through the extra income they would produce.

Wind power could generate up to 20 percent of the nation's power in 20 years, Pickens forecast.

"Private industry could do it in 10, but if the government does it, it'll take 20," Pickens said to audience laughter.

Pickens is investing in wind energy himself. He is planning a 4,000-megawatt wind farm in Texas. It reportedly would have about 2,000 turbines on nearly 200,000 acres in four counties.

Solar power would be a complementary energy source, said the oilman, who has written an upcoming book, "The First Billion Is the Hardest."

Pickens asked the audience to promote his proposal by signing up as supporters on the Pickens Plan Web site, adding that real change can only come from a grassroots effort.

"I've made a lot of money in the past 30 years, and I've talked to a lot of politicians. Now that I've made this money, I can get in to see them faster, but they still don't listen. They will listen to the people," he said.

Pickens said about 250,000 have signed up at his Web site, adding that his goal is to have 1 million supporters.

"This $4 gasoline has really gotten a lot of people's attention," he said. "I think I've struck a nerve here. This is the plan, and the plan will work."

Jeff Postelwait 581-8387
jeff.postelwait@tulsaworld.com

Boone Pickens

Age: 80

Home: Dallas

Education: bachelor’s degree, geology, Oklahoma State University, 1951

Business: Founder, chairman and CEO, BP Capital and TBP Investments Management

Web site: tulsaworld.com/ pickensplan

Key points of the Pickens Plan

Build a $1 trillion system of wind farms that stretches from the Texas Panhandle to North Dakota.

Spend an additional $200 billion to construct a transmission system that would carry the energy from the Midwest to each coast.

Reach a goal of using wind power to produce up to 20 percent of the nation’s energy.

Have private enterprise pay for the wind turbines, with landowners receiving royalty money.

Reduce the amount that the United States spends to import foreign oil from the current $700 billion a year to $400 billion in 10 years.

Use more natural gas in transportation — particularly to fuel freight trucks and government vehicles.

Source: tulsaworld.com/pickensplan

By JEFF POSTELWAIT World Staff Writer

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	Report Comment gambler, tulsa (8/14/2008 7:13:40 AM) Nancy Pelosi has invested in picken's plan, so this means that the only way for nancy pelosi to make money is for naural gas prices to be high and this only happens if oil prices are high, so much for offshore drilling.
	Report Comment iflyfast, (8/14/2008 7:17:54 AM) Of course, what isn't mentioned is that we, the taxpayers, pay $25 per kilowatt hour of TBP's expenses, so any money his company CNLE (I think that is the right set of letters) makes off of wind and solar power is more money in his pocket. What also isn't mentioned is that Nancy Pelosi, the "champion for the little people", on the first day stock was available in said company in 2000, she bought over a thousand shares, so, of course she supports his idea because it is money in her pocket as the stock rises. Funny how she is all about the Marxist idea of wealth redistribution, but she sure loves the capitalist idea.
	Report Comment Davy Crotchety, (8/14/2008 7:36:52 AM) Iffelast, What are you rambling about? The so-called "news" you get from people like Michelle Malkin is of little use to rational people. Pickens IS investing in wind...so's Pelosi...why shouldn't they make money? If their investments are making money, then the wind energy business is growing. And if we're producing more energy in America, then we don't have to buy as much from volatile parts of the world. That's the whole point, you clown.
	Report Comment jhill, Tulsa (8/14/2008 7:55:22 AM) I'd really be skeptical about Pickens' advocacy of this plan if he didn't feel strongly ewnough about it to risk his own money. As it is, he's putting his money where his mouth is. Never trust a skinny cook or a sober bartender — they clearly don't believe in their own product!
	Report Comment WilliamTheArtist, (8/14/2008 7:57:13 AM) If your so sure that someone is going to make money on a stock purchase... I suggest we the "taxpayer/little people" buy some of that stock as well. Thats what stock is for, its a way for the worker to make money off their work, and is a way for a business to get more money to invest, grow, and hire more workers.
	Report Comment iflyfast, (8/14/2008 8:05:11 AM) Davy, not saying it is a bad thing. I am a huge fan of capitalism. However, it is a point that needs to be brought up.
	Report Comment gth300, (8/14/2008 8:22:40 AM) Of course he is going to make money. He investing in something that will give him a return because he knows it will work. If the gov't were to do they would make the money, not Pickens. If some of that stock is available I will purchase some. CAPITALISM people. Thats what this country was founded on. Maybe he should run for President
	Report Comment gambler, tulsa (8/14/2008 8:34:00 AM) There's a small town in west texas that has about 50 of these wind turbines and they only produce enough enegy for parts of town, can anyone imagine how many wind turbines it would take to generate enough enegy to power tulsa?
	Report Comment Jason L., Tulsa (8/14/2008 8:39:51 AM) Come on people, TBP is 80. By the time all this comes to be he will be 90 or 100. By then he will be dead. So maybe, just maybe... he is being patriotic and not just in this for the money this time around. Either way, he is right... there is no leadership in Washington concerning energy policy. Someone has to come up with something and his name is TBP.
	Report Comment bear53, (8/14/2008 8:40:40 AM) i see a tug of war here between communism & capitalism. gth is correct about what this country was founded on. the worth of any nation is decided on how many want in & how many want out. where do you fit in?
	Report Comment WW, (8/14/2008 8:50:15 AM) Remember, TBP made a good bulk of his money as a corporate raider on oil companies. His Mesa Limited Partners company used other people's money to build these take-overs up, then he'd sell out of one or the other depending on the time. So, either way, he won. He almost broke Phillips Petroleum in the 80's doing this. Just like Donald Trump, just because they're rich, doesn't mean that they amassed their fortunes in a completely respectable way. I got screwed then, I definitely don't trust him now.
	Report Comment NNN, Tulsa (8/14/2008 9:13:20 AM) This plan is workable and will make a big difference. You people second guessing it for tangent reasons are missing the poing BIG TIME. America NEEDS THIS. Sign up at PickensPlan dot com.
	Report Comment bear53, (8/14/2008 9:27:40 AM) ww, tbp went after the spongey companies with soft management. phillips brought that on themselves.
	Report Comment WW, (8/14/2008 9:38:39 AM) So bear53, I guess that makes that business practice ethical?
	Report Comment JL, (8/14/2008 10:10:41 AM) What is it they say that need is the mother of invention? What about the telephone, lightbulb, Penicilin? They dont give this stuff away at cost. They are trying to make a profit. That is what it is all about. You all dont go to work for room and board everyday do you? You have the hope to make a excess. Why should he not be able to just because he is opn a bigger scale. If you dont like the idea of him making the money then you go take your money and risk it out there and make it.
	Report Comment Bluebird48, Sand Springs (8/14/2008 10:38:56 AM) enough said on this issue...TW why do you all keep this in limelight when there are BIGGER stuff in NEWS.........WWIII??!!
	Report Comment pilker, Oklahoma (8/14/2008 11:40:45 AM) Examine his plan and forget who's saying it and see what you decide ... we need to go in all different directions ... Next president. Set the sites high and shoot for it ... a 'get to the moon' mentality will do it ... And if you decide to disagree, come up with a plan and let us know about it.
	Report Comment Jason L., Tulsa (8/14/2008 12:14:09 PM) Bkuebird48 - When WWIII happens I am pretty sure it will be front page with 10" type headlines.
	Report Comment jaenosjelantru, Tulsa (8/14/2008 1:34:22 PM) Bluebird- If you're referring to the Georgian-Russian conflict, that's no where near WWIII. It's a regional feather ruffling with the Russians flexing their muscles, that's all. WWIII will begin when Israel decides to Osiraq style bobm the Iranians and they retaliate with chemical weapons. That's when WWIII begins...
	Report Comment D.Boone, (8/14/2008 1:36:30 PM) What does, he is from Oklahoma have to do with anything. Kisssenger and the Gov. of the nutty state of California are from Germany. So what. Every doller he has had to come from someone else. I don't think he had a printing press that would print money like the Federal Goverment has. Some of the piles of money he has came from YOU. Now he.s doing his song and dance to get more of your money through the goverment. People seem to have their head in the sand on this. We may be able to supply part of our energy with wind turbines,but if we import 20 million more into our counrty we'll be back where we are now. One easy way to cut back on oil imports would be to lower the speed limits on our highways. Doing that would also cut the profits of Big Oil and we cain't have that.
	Report Comment Bluebird48, Sand Springs (8/14/2008 2:37:34 PM) jaenosjelantru, Tulsa (8/14/2008 1:34:22 PM) Bluebird- If you're referring to the Georgian-Russian conflict, that's no where near WWIII. It's a regional feather ruffling with the Russians flexing their muscles, that's all ------- Think so???? one never knows about the mighty Russians fighting another Russian. Look at how WWII started.
	Report Comment Bluebird48, Sand Springs (8/14/2008 2:39:49 PM) WWIII will begin when Israel decides to Osiraq style bobm the Iranians and they retaliate with chemical weapons. That's when WWIII begins... ----- Arabs have been fighting each other since the dawn of man. Nothing new here. That spectacle is all about OIL/MONEY.
	Report Comment matt w, Tulsa (8/14/2008 2:44:13 PM) Yes, WWII only started because Hitler decided to kill the people next door to Germany. Had he stuck with killing only Germans, the war quite possibly never would have happened. If you don't believe me, look at Stalin, or Polpott. They both killed 10's of thousands of people and one dies peacefully in his bed and the other gets put under house arrest. So WW2 had not as much as you would think to do with Germans fighting Germans, as it did Germans becoming stupid and killing people from other countries
	Report Comment matt w, Tulsa (8/14/2008 4:42:00 PM) thats true hardball, it was just easier for me to type it all as 10's of thousands, rather than, Stalin killed millions and Polpott killed like 80,000, or however many it was. But my point is still the same either way. WW2 was not because of Germans fighting Germans, it was mainly because Hitler decided to kill the people next door. Had he stuck with killing his own people than like Stalin and all the others he would have probably died peacefully in his bed from a meth overdose. Either that or he would have died from being malnurished, because he was a vegetarian.
	Report Comment billy8, (8/14/2008 4:51:18 PM) I believe that Pickens has a great idea, it should have been done 30 years ago, but nobody listened to the hippies. Now our environment is in trouble from the use of fossil fuels, but nobody wants to do anything about it. some don't even believe it's really happening. That's ok, only your grandkids will be affected. One man comes up with a plan, and all you can do is put him down for it. WHAT'S YOUR PLAN!

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