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Do you think energy tycoon T Bone Pickens can shape a new path for American energy production? He shared his thoughts at this years TED conference.
T. Boone Pickens knows energy. The 83-year-old billionaire entrepreneur started his first oil and gas company in 1954 and has been in the industry ever since.
In recent years, Pickens has been a vocal advocate for rethinking America’s energy sources.
“Washington does not understand energy,” Pickens said. “They do not spend the time and acquaint themselves with exactly what we have available and how to deploy it. We are the only country without an energy plan.”
Pickens’ response to what he viewed as a lack of leadership on the energy issue was to launch his “Pickens Plan” in 2008. It’s a $58 million proposal that would dramatically revise America’s energy use.
“The country uses almost 20 million barrels (of oil) a day, and of the 20 million we import 12,” Pickens said. “Some of that oil comes from friendly sources such as Canada and Mexico, but you do have 5 million barrels from OPEC countries. So any fool can see that you’re paying for both sides of a war. And you don’t have to do it. So what is a quick solution to the problem? Get on your own resources. And we have plenty of resources in America. What is missing is leadership in America.”
The Pickens Plan is comprised of several steps that would comprehensively rearrange how America sources its energy needs.
The Pickens plan aims to transform the Great Plains region of the country into a wind farm by building thousand of wind turbines that would produce 22% of America’s energy. In order to transport that energy to coastal cities, the plan envisions upgrading the national energy grid by building thousands of miles of transmission lines. The plan also pushes for the development of low cost natural gas resources to fuel America’s cars and trucks.
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