Posted on 07/22/2008 12:02:55 PM PDT by Kaslin
WASHINGTON (Reuters) - Oil prices will hit $300 a barrel in 10 years if the United States fails to reduce its dependence on foreign imports, billionaire oil investor T. Boone Pickens told U.S. lawmakers on Tuesday.
The United States imports nearly 70 percent of its oil and Pickens said the world's top petroleum-consuming nation would import 80 percent in a decade if it does not aggressively tap its own natural gas and renewable resources.
"If we continue to drift, oil will hit $300 a barrel in 10 years," Pickens testified at a hearing of the U.S. Senate Homeland Security and Governmental Affairs Committee.
He testified as the Senate planned to debate energy legislation amid calls for more oil drilling to help lower oil prices which hit a record this month of over $147 a barrel.
Pickens has been touring the country pushing a plan under which domestic natural gas supplies would be used to power cars instead of electrical power plants. The federal government and private investors would build a massive wind farm system in the middle of the country from Mexico to Canada to provide electricity.
(Excerpt) Read more at reuters.com ...
The “T” in “T. Boone Pickens” stands for “Tool.”
Pickens is the 2nd coming of Ross Perot, with a dash of Ron Paul. He takes a truth (our need for energy independence) and then makes an abrupt left-turn to the surreal (windmills!!!)
Huh? The price will go up unless we limit the sources of supply that we can buy from?
Don’t get me wrong, I’m all for drilling.. but the point is, it is increased supply that will lower price.. nut cutting off sources of supply.
Pickens knows one thing - how to make money.
He doesn't do anything unless he thinks there's money to be made. So, I think T Boone is aptly named, because I believe he intends to "Pickens" our pockets on this one.
Pickens sees a U.S. government supplied cash infusion into his pocketbook.
I see a boondoggle, and a lot of government dollars poured into an enterprise that won't stand on its own merits.
If a businessman has a good idea that will stand on its own merits, he doesn't need to go around hitting up contributors and the Congress.
T-Bone, he be in the wind bizness with Algore now. Oil bad.
And a big dollop of Dwayane Andreas, the former head of ADM. Keep that government largees a-comin' for wind power!
P. T. Boone Barnum Bailey Pickens.
I think we have no more people in power or influence who will stand up for what is right for America.
How does planting wind farms reduce the use of OIL?
Is it just me, or does T-Boone appear to be a moron?
Or at least a Grand opportunist?
How mant times has this been posted now/ 50? enough already. Old news.
He likes to tilt at windmills.
Methinks Boone hath an ox to gore in this one.
It doesn't. Not directly.
Pickens' premise is that every megawatt generated with wind or solar power will free up some amount of natural gas -- which is commonly used in power generation, at least here in the Southwest.
The additional supply of natural gas could then be used to power vehicles, replacing gasoline.
T. Boone is heavily invested in wind power...and natural gas. He anything but a moron. But, like any good businessman, he senses opportunities...and capitalizes upon them.
Dontchew speak good Texican?
;^)
T. Boone's argument is flawed in the commercials. He states that the problem is the amount of money sent out of the country for foreign oil, then states that we can't drill our way out of this. He makes no mention what-so-ever of domestic drilling, building refineries, and then calls for the increase of windmills. That makes absolutely no sense on the global scale...i.e., what's best for America.
T. Boone is a business man in the game to make money, and I think he knows that the free market won't go for this 90 degree turn. This would explain why he is lobbying Congress. If the free market won't make him a killin' on the deal, why not rape the tax payers and have them pay for it?
I have not invested 1 single penny in his companies, but I have this feeling that I'm going to be forced to invest in it, via Uncle Sam.
Oil prices will double in 10 years? Wow, what a gifted prognostigator.
I’ll say this: natural gas has been coming to the fore in the Caribbean and South America in the last few years, and is starting to make inroads here. The big roadblock is, again, federal agencies that make it incredibly difficult to modify vehicles without expensive licenses and renewal fees.
T Boone is working for T Boone. He doesn’t give a rats butt for anyone but T Boone.
T Baloney.
Nothing wrong with wind turbines, but they are a long, long way from energy “independance”. Let’s use up all their oil before we use ours and then tell them to GF’d.
Drill everywhere, build refineries, build nuclear plants, tell the Muslims to STFU, bomb Iranian nuke plants, take out Chavez, NK etc., take the oil if necessary.
There is no “peak oil” for a long, long time. By the time the oil runs out, there will be something else to replace it.
Kill the “greens”, tell big fat Bore to STFU.
Open the wine, cook the pasta, enjoy.
>> T Boone is working for T Boone. He doesn’t give a rats butt for anyone but T Boone.
Anyone who doesn’t understand this simple fact is a naive fool.
What a wind generator this boob has become.
The Texas PUC just approved a $4.93 billion project to build transmission lines from the panhandle down to the Texas grid to carry the windmill power. 18500 MW.
>>>>>>Pickens knows one thing - how to make money.
He’s not shy about it, check his web site.
TBP is definitely staking out some profitable territories and he even tells you which ones.
>>>>> take the oil if necessary. There is no “peak oil” for a long, long time. By the time the oil runs out, there will be something else to replace it. Kill the “greens”, tell big fat Bore to STFU.
Open the wine, cook the pasta, enjoy.<<<<<
Ha ha. I like your attitude!
THE MIDDLE EAST OIL BELONGS TO THE WEST, WE FOUND IT, WE EXTRACT IT, WE INVENTED THE TECH, AND WE NEED IT.
He’s in the wind turbine business.
Not that there is anything wrong with that!
“Anyone who doesn’t understand this simple fact is a naive fool.”
You are, of course speaking of Obammy and all the dim Dhims.
Pickens is heavily invested in wind mills and natural gas at this time. This loon needs watching.
And y’know, on the surface I have no problem with that. If Pickens wants to invest in wind power, good for him. If he makes money off it, better for him.
But to pretend that he has no profit motive - that he’s doing this for the Good of Mankind - is dishonest, and frankly I thought Pickens was better than that.
Follow the money.
Pickens will make a killing off of windmills and solar energy. Its in T. Boone's best interest that we radically alter our energy sources from Oil to his energy consortium...of course all in the name of making you feel good about your sacrifices.
Who dusted this guy off and pushed him out on the stage? I’ve seen more of him this week than I have in my entire life. I guess Algore is getting stale and the communists/nature-worshippers need a new face. I’m already bored of him. I like his mantra- “this is a problem we can’t drill our way out of...” Give me a break you old senile coot— that’s like if you are starving to death and someone tells you to eat less. He’s a tool all right.
In Texas, wind power can only operate at 17% of it’s capacity, and that is high compared to other states. What a joke.
This latest scam is just more of his huskering.
If we “can’t drill our way out of this mess” how is T. Boone going to get at the natural gas he says we need?
Yeah. I’m actually all for alternative energy, but that’s the future. In conjunction with increased domestic production we’ll start to make things right. Drill Here Drill Now.
LoL.. Pickens is imagining himself as the Howard Hughes of windmills parasiting the federal government of multi billions..
Bad timing. He should have come out with this a month ago!
Fund ITER. If ITER is funded properly, oil wouldn’t be a problem by 2025.
I can’t drive my car with a windmill on top of it
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