T. Boone Pickens is out of gas

I have been a fan of Oil tycoon T. Boone Pickens for many years now.  For me he is one of the people I follow.  Whether I agree with his decisions or not, I make sure to pay attention to what he is doing.

Throughout his professional life, Boone has been a generous philanthropist, giving away almost one half of a billion dollars. In 2006, he contributed $175 million to a wide range of causes and the formation of the T. Boone Pickens Foundation. He has appeared multiple times on The Chronicle of Philanthropy’s list of top U.S. philanthropists. The T. Boone Pickens Foundation is improving lives through grants supporting educational programs, medical research, athletics and corporate wellness, at-risk youth, the entrepreneurial process, and conservation and wildlife initiatives.

Boone recently made headlines when he labeled natural gas as a “disaster.”  For many years Boone has been a staunch advocate for increasing energy independence, and has been working tirelessly to boost America’s natural gas industry through the promotion of his Picken’s Plan Strategy.  He seems to have pulled the plug on natural gas, for the time being; having 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, Boone 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 Boone’s persistent efforts.  Boone had this to say about America’s energy 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, Boone dejectedly stated, “Whether we do or we don’t, I’ve had about all this I want to fool with.”

… So … with wind and gas out of the picture, it will be very interesting to see what is Picken’s Plan going forward with respect to the next emerging market.  His website is http://www.pickensplan.com/