Special Reports
T. Boone Pickens' Energy Plan Gets Play in Washington

Austin Business Journal
July 24, 2008

Texas oilman T. Boone Pickens told lawmakers that a switch to
American-produced energy resources within the next 10 years is necessary
to end the nation's crippling $700 billion dependence on foreign oil.
Pickens, who revealed his alternative energy plan earlier this month
through a series of television ads and the Internet, told the U.S. Senate
Homeland and Security and Government Affairs Committee on Tuesday that the
United States should be able to produce 22 percent of its electrical
energy needs using wind-powered electricity, based on Department of Energy estimates.

Pickens points to the great plains, which includes parts of West Texas, as
a prime location for producing wind energy resources.

Pickens told lawmakers the creation of wind-generated electricity will
free up a percentage of the nation's natural gas resources that are
currently fueling U.S. power plants.

If wind energy resources take a more active role in powering plants,
Pickens says natural gas resources can then be redirected to the nation's
transportation system, reducing the nation's foreign dependence on oil by
38 percent.

"I believe this plan provides a significant bridge to the future that
gives us time to develop the next generation of alternative fuels,
including electric vehicles," Pickens says. "It results in revitalizing
much of rural America with more than $1 trillion in private investment
within 10 years instead of enriching other nations at our expense. It can
all be accomplished with private investment but needs government support
by clearing the way for action, which means help on providing the
transmission rights of way, the appropriate renewals of the renewable
energy tax credits, among other things."

Pickens' plan calls for lawmakers to reduce America's dependence on
foreign oil by 30 percent in 10 years. It also stipulates that the country
needs to rely 100 percent on energy resources produced in the United States.



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