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Boone Pickens Rolls Out National Campaign For Alternative Energy Sources

By Erik Folgate

We can complain as much as we want about the gas prices, but it doesn’t do us any good. We need to come together as a country and come up with a short-terrm and a long-term solution to our energy crisis. We need energy to survive. Oil is the most efficient, most abundant energy we have right now, but it’s being controlled by countries that don’t like us. So, what’s the answer? The answer is finding alternative energy sources to become less dependent on foreign oil.

The Short-Term Solution: We need to drill for oil in areas like Anwar, the Mid-Atlantic Continental Shelf, and the Gulf of Mexico.

The Long-Term Solution: Check out this link with two videos of Boone Pickens explaining his alternative energy plan. He wants to explore solar and wind energy to replace natural gas, so we can use oil solely for transportation. He thinks it will take five to ten years before the wind and solar energy could take over as a primary source of energy.

He’s a pretty smart guy, and he has a lot of good points. The United States was too comfortable with the amount of energy they were consuming, and they told the Middle East to keep it coming no matter what price it is. Well, the price was never bad until now. He also points out that in 1970, we imported 24% of our oil, and we now import over 70% of our oil. This is horrible for the economy, and now we are seeing what it does to an economy when we become so dependent on a foreign import commodity.

Watch both of the videos and post a comment about your thoughts.

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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  • Ethan

    Thanks for posting this. Boone Pickens is a good example of how capital can get things started much quicker than legislation. One thing he mentioned in his bit on CNBC, though, was that this could all be done within 5 or 10 years. That is at least how long it will take to get Continental Shelf or ANWR oil onto the market. I think the jury should still be out on drilling in these locations. There are a lot of industries that could be effected by ecological ramifications of oil problems with offshore rigs, including fisheries and tourism in Florida and the rest of the Atlantic and Gulf Coast. What Boone Pickens didn’t say, is that while the natural gas we currently use is a non-renewable fossil fuel, the technology to produce natural gas from food, yard, and other organic waste has been around for a very long time, and is well developed. It also has a MUCH better input:output energy ratio than ethanol production. If Boone Pickens gets all of this going within ten years, renewable natural gas (biogas), could replace the need to drill off shore or in ANWR.

  • http://www.pickensenergyplan.com scotty

    There is a public Forum for discussions about Pickens plan :
    www.pickensenergyplan.com
    Cheers.

  • Ryan

    There was an article about Pickens in BusinessWeek a few weeks ago. That guy is so freakin’ rich and just wants to keep getting richer. As much as I’d like to think that he would be doing this out of the goodness of his heart, I have a feeling that his wallet will just get fatter. Be weary of the Pickens!

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