The Pickens Plan Revisited

As oil prices escalated to nearly $150 one year ago, T. Boone Pickens appeared on CNBC to explain his proposals for energy independence. At the time, Mr. Pickens certainly did not predict the huge collapse in oil prices in the ensuing months, but appears adamant that his plan is still viable today. Let’s listen to what Mr. Pickens had to say in an interview today on CNBC.

Comments

[rajsekar]

Pickens has a basic credibility issue. Why is Congress listening to Pickens and his plans? It's a well known fact that US is dependent on foreign oil for many years now and Pickens thinks that Congress realized it just last year. Picken's lean towards Natural Gas is surprising and I don't think our automotive or industrial sector is geared towards using Compressed Natural Gas (CNG). Countries like India, China and Singapore have invested money to run fleet vehicles using CNG, while US is lagging behind on usage of CNG. Storage of natural gas is a tricky issue unlike oil. Pickens is dead wrong on his plan. I wouldn't trust anything that Pickens talks. I wish some billionaire swift boats Pickens for his Natural Gas strategy.

2009 Jul 08 10:33 AM

[nakedjaybird]

GOOOLLLLLLYYYYYY-GEEZZZ folks; for some reason I can only remember the natural gas crunch of 1979. Now, that was not contrived, was it?????

2009 Jul 08 02:31 PM

[Tony Petroski]

I recall "Oilman T. Boone Pickens" telling us that oil was soon to hit $200 a barrel. I assumed by "soon" he meant in the next year or so. Mr. Pickens admitted that "the winds have changed."

2009 Jul 08 05:04 PM