T. Boone Pickens US Energy Idea Plan

[ecchamberlin]

You may have seen the adds on TV
This is in my opinion something that deserves attention. This man's ideas and knowledge on the subject of the oil industry and up and coming renewables is impressive to say the least.

This is the link to the site.

http://www.pickensplan.com/theplan/

If you have the time give it a once over and tell me what you think

[paddlenbike]

There were plenty of opportunities for the author to exaggerate the facts regarding U.S. oil consumption, but they check-out with the report to the USGAO (United States Government Accountability Office) entitled [url=http://www.gao.gov/new.items/d07283.pdf]"Crude oil, Uncertainty about Future Oil Supply Makes it Important to Develop a Strategy for Addressing a Peak and Decline in Oil Production". Not only am I interested in the subject of alternative energy sources, I am trying to make a decision on how to invest in the technology. I am getting slightly off topic here, but if you were interested in investing in wind technology you could buy stock directly from a company such as Vestas, the largest producer of wind generation machines, or you could buy a mutual fund of various wind stocks (called ETFs, electronically traded funds), or a generic ETF covering all various forms of alternative energy. I am interested in the latter. Anyways, I'm right on board with the article you posted. I suspect we may see more interest in alternative energy after Bush leaves office.

[ecchamberlin]

Good points. Ironic that you mention investments as my wife and I are really getting involved in ours as of late. I think by default alt energy/renewables will be strong investment avenues. Like Mr Pickens states we cannot continue to spend $700Billion a year on imported oil. We just simply cannot afford to.

[paddlenbike]

I spoke with my financial planner about investing in alternative energy and his response was "invest where the money is, oil." I know he made tons of money in the past on oil stocks, but I can't imagine that the stocks have anywhere to go but down. Oil production peaked in 2005 and the cost of extraction will only go up. Demand in the U.S. is going down, although China is using more than ever. Given the uncertainities with war and everything else, I can't see investing in oil. Alternative energy looks very promising to me.

While not directly related, the airlines are now getting together to encourage people to act on oil speculation. click here. (http://www.hawaiianair.com/Specialoffers/Pages/SOS-Now.aspx)

[paddlenbike]

Just saw the T.Boone Pickens commercial on TV. I was paying so much attention to it that I almost flew off the treadmill.

On a somewhat related note, I see Bush lifted the executive ban on offshore oil drilling.

[Seanz0rz]

i say regardless of whether or not we agree with some of his stuff, hes doing a good thing by further pushing this issue into the main stream. we need other choices besides oil for several reasons, all of which are enough alone to prompt concern for their use.

[ecchamberlin]

For sure. It is an idea that would move us in the correct direction even if it is a bit less than the perspected gains.

I am curious to see how he delivers this idea. He doesn't seem like that type to start something this big without doing his homework and analysis. He's not a self made Millionare by accident.