19 July 2011

Throwing in with the Pickens Plan

Posted by John Freeland

The family’s out with the van shopping or something, so, I’ve got the place to myself. I downloaded an archived broadcast (April 2011) of C-Span’s coverage of a National Press Club lunch meeting. Obviously, I lead an exciting life. The guest speakers were Ted Turner and T. Boone Pickens, talking about energy. Pickens makes a good sales pitch and I’m about ready to “throw in” with his energy security plan – with improved environmental regulations and enforcement.

Pickens wants to get off of oil and use domestic natural gas as a transportation fuel. This will create more demand for natural gas and drive its price higher. If the price of natural gas increases modestly, then wind power becomes more competitive for electricity generation.

A few other highlights of the video:

1. The immediate priority for Pickens is to convert 8 million 18-wheel semi trucks from diesel to natural gas. From an emissions standpoint, converting one semi truck to natural gas is equivalent to taking 1,600 cars off the road. And, the natural gas is a lot cheaper.

2. Over a $1 billion a day leaves the U.S. economy to buy foreign oil.

3. Pickens takes a funny shot at Donald Trump.

The program is available here.