T. Boone Pickens is back in the news. T. Boone Pickens became a household name when he attempted to gain control of Conoco Oil. This time he’s not leading the take over of a national oil company. He’s involved in something even bigger. He’s working to save the United States from a descending world economic status due to our glutonous appetite for foreign oil. According to ‘the plan’ website, over the next 10 years the U.S. will spend $10 trillion on foreign oil and this expenditure will represent the biggest transfer of wealth in the history of mankind.

The Pickens Plan is a plan to lead the U.S. to energy independence. According to information provided by the website, the U.S. is spending 4x more annually on foreign oil than is spent on the Iraq War. T. Boone Pickens believes this is a crisis for the U.S. The website also says that the world will never produce more oil than it produces today and that dependency on oil will be more and more expensive.

The Pickens Plan that is described on the website supports a goal of wind generation providing 20% of the electric power required by the U.S. It also supports migrating the automobile fleet from liquid fuels (gasoline and diesel) to natural gas. There aren’t any details for the ‘the plan’. But, the reason for using natural gas in automobiles is that it burns cleaner than gasoline or diesel.

T. Boone Pickens has a vision. Is it the right vision? Certainly, the objective of reducing America’s dependence on foreign oil will be supported. How to reach the objective will be the subject of much debate.

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