T. Boone Pickens Bails on Natural Gas

In a recent interview with Marketplace, oil tycoon T. Boone Pickens made headlines when he labelled natural gas as a “disaster.”

Pickens who has been a staunch advocate for increasing America’s energy independence and domestic production of energy, has been working tirelessly to boost America’s natural gas industry through the promotion of his energy strategy, the Pickens Plan.

However, the billionaire investor seems to have pulled the plug on natural gas, for the time being.  According to Marketplace, he’s sold his natural gas assets, in particular his shares in the country’s largest natural gas company, Chesapeake Energy.

For the better part of a year, Pickens has been lobbying government officials from around the country to support the NAT GAS Act, which seeks to increase the use of domestic natural gas in vehicles, particularly heavy-duty trucks.  The bill has yet to make much headway in congress, despite Pickens’ persistent efforts.

A disgruntled Pickens had this to say about America’s enegy policy:  “We have no energy plan for the country.  It’s pitiful; we’re using 25 percent of all the oil produced in the world every day.”  Asked if he thought Washington would ever get its act together, Pickens dejectedly stated, “Whether we do or we don’t, I’ve had about all this I want to fool with.

With natural gas and wind now out of the picture for the Pickens Plan, what resource is up next?

Original Article on Energy Boom





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