Optimistic: T. Boone Pickens Expects Obama Administration to Implement Pickens’ Plan
Billionaire American entrepreneur T. Boone Pickens is optimistic that the Obama administration will bring the United States’ energy infrastructure into the new millennium by implementing his plan for energy independence.
After eight long years there is finally a cause for hope here in the United States. George Bush may still be in office, but right now all America’s problems are President-Elect Obama’s to solve (see Obama Recession, thanks Rush), but he seems ready for them.
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As New York Times columnist and Nobel Laureate Paul Krugman says, it is time for Obama to act swiftly and implement New Deal policies for the new millennium. Many have said that FDR’s borderline socialist policies failed because he spent too much money, Krugman feels that he did not invest enough. The Pickens’ Plan, as it is so poetically called, may be the starting point for such an investment.
Why is Pickens’ Plan important? Simply because it’s main goal is to divert all of our oil and natural gas to the transportation sector. Factories will no longer use natural gas because they will be powered either on site or through an electric grid powered by wind and solar. The plan stresses efficiency and centrality. It could also potentially save the US $300 billion in oil expenditures. Citing Obama’s plan to end dependency on foreign oil in the next ten years, Pickens expects that the first step will be implementing major parts of his plan.
The major parts of the plan involve the US specially equipping larger vehicles (buses, trucks, etc.) to run on natural gas. This would take a huge load off of our dependence on oil, in turn causing prices to drop because factories and businesses will have no need for it. Demand for oil would come solely from consumers, as would carbon dioxide emissions (the nitrogen oxide emissions will come from the natural gas burning buses).
Pickens has been criticized for the plan, but has responded “If you don’t like my plan, get a plan.” Of course he is a businessman trying to make money, but he does drive a hard bargain. During a recession time like this, a wind initiative would be a huge help to the country. It would create jobs as well as help stabilize our energy future. Pickens has also promised to invest $1 trillion in the project, which should certainly make it easier for the Obama administration to begin implementing the plan.
The plan can work, but only time will tell if some or all of it gets implementes. Pickens cannot do it alone, he needs the government to help. The Obama Administration seems to be attacking the transition with tenacity, which is a good sign for the plan and our energy future as well. I really hope that Obama’s message of change wasn’t just a campaign slogan. So far he has hit the ground running and I look forward to seeing where his administration will go from here.
Want more to read? Check out these links on economics and US energy policy:
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Source: Yahoo! News (via Biofuels Digest)
Photo Credits: Thanks to Tom Saint’s Flickr photostream under a Creative Commons License.
Hmm.. After years of being an oil salesman, Pickens suddenly wants to be an “energy” salesman just as a new administration is coming in. I hope Obama sees through that nonsense and goes with somebody else.
Good article. I too am skeptical of some parts of the Pickens Plan but support it none the less. Wind mills are a god idea. Using natural gas in trucks is a good idea. Extended electric infrastructure is a good idea, though the people a Repower America are thinking about it more fully.
H2 vehicles are coming. Solar concentrated steam generators are happening. Lots of good things are happening and need to happen faster. Government has a role to play.
Right that’s why he donated all his money to McCain’s compaign.
The sooner we end our dependence on oil and coal the better. I applaud picks for coming up with a strong initiative. The more people that step up to the plate like this, the better off we will all be.
Chuck,
You’re absolutely right, this blog is not a place for criticizing the previous administration’s foreign policy decisions. It is a blog about alternate energy, and I accused the President of having a poor energy plan, not of disregarding our constitution to declare war on another country and have nothing to show for it after 5 years of occupation except some ‘nuclear cake’. If you want unbiased news, you maybe should consider the reading AP articles.
The Pickens’ Plan is not the end all be all of our energy future. If it is our only plan then we are in a lot of trouble. You’re right that someone should help make alternate energy a safer investment so that more people will invest, but the government is not going to wipe their hands clean of this countries energy future and let the market decide. I think you know what happens when markets go unregulated for too long.
Thanks for the input.
~anthony
I like Pickens. I empathize with his desire to get us off of foreign oil. Having said that, I’m not the biggest fan of this plan.
1) It’s too expensive. A trillion and change for 20% of our electricity is hardly a paltry sum.
2) Bringing power to population centers from the midwest is too problematic and a complete waste. Instead we should move people to the midwest. I’m not joking. We look at this problem the wrong way. The fact is many of our largest population centers are far away from proven renewable energy systems. If we are going to be serious about solving this problem than we have to think more radically than we are. BTW, Kansas is nice… a bit windy.
3) By the time our cars are all set up to run on cng the ice will be an obsolete technology. We should be diving capital into the electric vehicle.
Oh Dear, Oh Dear, Mr Pickens the problem is that you’re just moving the problem from the visible price of gasoline to the less visible price of natural gas. What will this plan do to the price of natual gas? Since most of the chemicals used in the US (polyester fibres, nylon, paints, coatings, plastics, fertilisers) is derived from natural gas then you’re going to increase the competition for this. A cent will get you a dollar that the prices of these items would rise.
Wouldn’t it be better to simply use the gasoline more efficiently. Tie aid for the US auto sector with siginficant increases in fuel efficiency for ALL types of vehicles. Say a minimum 50% improvement over three years…
@clockwerkj hydrogen and electric vehicles are not the logical end. You have to generate both using either nuclear, solar, wind or coal in any case you have to think about the cradle to grave costs of your suggestions. Hydrogen is inherently inefficient because it has to be generated from electricity at the moment.
I failed to see one quote from Pickens in your article. I did see an interview with Pickens 2 days ago on FOX where he said he was drastically scaling back his plans because he cannot get financing to move forward. He said he did talk with Obama but that Obama was not overly optimistic about his plan. He did say Obama understood the problem (duh) but he did not know which way he would go to solve it. You should have some facts before you write.
“…Obama to implement Pickens plan..”
My advice to all you people is this. You need to go buy yourself a natural gas generator so you will be prepared for the blackouts that will inevitably come if this insane plan is implemented.
“Demand for oil would come solely from consumers, as would carbon dioxide emissions (the nitrogen oxide emissions will come from the natural gas burning buses).”
Google “natural gas combustion products” before you make this stupid statement again.