T. Boone Pickens: the Face of the Future of Energy?
July 28 2008 / by Mielle Sullivan / In association with Future Blogger.net
Category: Energy Year: General Rating: 15 Hot
For 80-year-old Texas oil tycoon T. Boone Pickens the
answer is blowin’ in the wind.
When you imagine of the future of U.S. energy, chances are the you don’t think of 80-year-old Texas Oil tycoons. At least you didn’t until T. Boone Pickens began campaigning for the The Pickens Plan just a few weeks ago. With oil prices heading towards $5 a gallon in the midst of a recession, an administration change on the horizon and the clean-tech debate drawing a great deal of attention and even more capital, the U.S. sorely needs a high profile spokesperson for energy policy change. So is Pickens our guy? And is the timing finally right for some serious energy policy change?
The Pickens Plan calls for a reduction in U.S. use of
foreign oil by 38% in 10 years by greatly expanding wind
power in the center of the country to be used towards electricity
production, thus freeing up natural gas reserves to be used for
transportation. 22% of U.S.
electrical generation comes from natural gas. The plan argues
that if the current 1% (48 billion kWh)
of power converted from wind can be expanded to 20% (960 billion
kWh) then the more than 6.2 trillion cubic feet of natural
gas used annually to produce electricity could be used for transportation starting
with industry vehicles like trucks and buses. Furthermore,
unlike oil, natural domestic gas production can increase and
actually did see a 9% rise
from 2007 to 2008. U.S. natural gas reserves are twice
that petroleum.
But why has Pickens chosen to promote his plan at this exact
moment? U.S. dependence on foreign oil has been an issue for
at least 20 years and it’s not as if the other selling points of
his plan—lower CO2 emissions of natural
gas, the need to expand renewable energy infrastructure, and the
potential of wind power in the U.S.—are new to the political
landscape. Environmentalists and many Democrats have been
shouting these points for years. The only thing new to these
ideas is that
Pickens is promoting them. Atop in all, Pickens is a
particularly unlikely renewable energy spokesperson. Besides
being a billionaire oil tycoon, he has been an outspoken supporter
of the Republican party and contributed $5.5 million to help defeat John Kerry elect
George W. Bush in 2004.
Information about new forms of renewable energy seems to come
out in waves. A few months ago, solar was everywhere. Now, I’m
seeing a lot about energy derived from water. In particular, two
projects caught my eye, one in Ireland and the other in South
Korea. Both operate on the premise of harnessing the power of
fast-moving tidal streams to generate electricity.