Well, you didn't follow the Pickens Plan, and I mean the old original Pickens Plan.
Boone's biggest asset is being a silver tongue devil, he's a good ol' boy and knows how to raise money.
He didn't have pot to piss in but was able to raise some money from family members to get started. He didn't build his oil company by drilling holes in the ground, he did it by leveraged buyouts, being a corporate raider.
Boone was a second generation LBO King. The first was JL Ling who leveraged Temco and Vought to create LTV and then LTV Steel.
As for Peak Oil, there is peak oil at a price. We ran out of $25 oil but we have a lot more oil now that it is $100. Unfortunately, in July 08 the price of oil spiked to $140, which pricked the real estate bubble, and crashed the economy.
There's always going to be oil in the ground, it just keeps getting more expensive to produce. That's the history. Every recession we have had(except one) since the depression is related to oil problems.
The first oil well was the Drake in 1860 and was only 70 feet deep. Back then there weren't any cars burning gasoline but they needed the kerosene to replace whale oil.
Howdy Ben, haven’t talked to you in a while. Thanks for your comments.
You gotta give TBP credit for single handedly leading the parade for natgas as a transportation fuel. He’s also been a long time critic of the DOE for never fulfilling its objective of making USA free from dependence on OPEC. He also bankrolled the Swift Boat campaign against John F’n Kerry.
I never could understand the animosity heaped upon him here on FR just because he’s a slick businessman.