Mackinac Policy Conference preview.

Author:Pickens, T.Boone
Position:Case note
 
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Featured Mackinac speaker T. Boone Pickens is the founder and chairman of BP Capital Management. With years of experience in the oil and gas industry, Pickens uses his wealth and knowledge to make predictions in the field and pursue energy-related business interests.

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Pickens has long been an advocate of natural gas as an alternative vehicle fuel, thus helping the lessen U.S. dependence on foreign oil. In 1997, he formed Pickens Fuel Corp., which was later reincorporated as Clean Energy and made public in May 2007. The company's natural gas fueling stations are located in parts of Canada and the U.S.

Pickens' interest in alternative fuels and energy resources has continued with the Pickens Plan. According to his Web site, Piekens Plan provides alternative energy solutions for the United States' addiction to foreign oil, the price of which is rising at alarming rates.

The Pickens Plan

Launched in July 2008, the Pickens Plan (www.pickensplan.com) details America's rising dependence on foreign oil and explains a method for utilizing wind energy and natural gas as alternative fuels. The Pickens Plan also purports to eventually aid our economy through utilizing domestic resources, creating new jobs and building a "platform on which our economy can continue to grow for decades to come."

The Plan

* Create millions of jobs by building out the capacity to generate up to 22 percent of our electricity from wind, in addition to additional solar capacity

* Build a 21st century backbone electrical grid

* Provide incentives for homeowners and the owners of commercial buildings to upgrade their insulation and other energy saving options

* Use America's natural gas to replace imported oil as a transportation fuel

The Plan advises building wind turbines to harness the wind capacity throughout the Great Plains. Creating 138,000 jobs in the first year and 3.4 million jobs in ten years, it would produce up to 20 percent of our electricity. To distribute this energy across the U.S., we would also have to update our national electric grid.

Described by pickensplan.com, it will be a "21st century grid, which will, as technology continues to develop, deliver power where it is needed, when it is needed, in the direction it is needed, will be the modern equivalent of building the Interstate Highway System in the 1950s."

2009...

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