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T.Boone Pickens pushes for natural gas and wind power.He Wants Americans to Insist That the New Administration Do Something About Exploring Alternative Energy Sources.
RSS Coming from a billionaire oilman, it is shocking advice. But T. Boone Pickens is warning Americans to use more natural gas and to start using wind power because the price of oil is never coming back down.
T. Boone Pickens pushes for natural gas and wind power."I'm not saying anybody lied to them, but they've been led to believe that the price of gasoline's going to come down," Pickens told "Good Morning America" today.
"This price isn't just going to come down?" Chris Cuomo of "GMA" asked Pickens.
"No," insisted the oil titan.
"There's no easy fix that deals with the markets that can bring the price down?" Cuomo probed.
"No," Pickens said.
Instead, said Pickens, the price of oil, now hovering above $140 a barrel, will hit $200 a barrel.
Pickens said the country is in an "emergency," and is spending $700 billion a year on foreign oil.
"I mean, it's incredibly stupid on our part," he told "GMA."
The blunt talk comes from a man who in the 1950s took a geology degree and $2,500 of borrowed money and parlayed it into Mesa Petroleum, an oil and gas exploration company. It made Pickens a fortune, and turned him into a legend. In the 1980s he gained notoriety as a corporate raider after forming the hedge fund, BP Capital Management.