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| Name: |
water_watcher
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| Subject: |
Pickens Plan
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Date:
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4/13/2011 7:57:09 AM
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I was just watching Boone Pickens on CNBC about the bill now in congress for wider use of Natural Gas. We are up to 72% of all our oil used being imported. Nearly $700 billion a year. That is up 40% over the last 3 years. Hmmmm.
This is a solid plan and would create US jobs, keep money in the US and reduce gas prices.
If Obama and the dems care about jobs and the little guy, then they will get behind this plan. They want to talk about letting the Bush tax cuts, that have been in effect for 11 years and we did not have the deficit problem to the magnitude we have today util the dems took congress and Obama started writing checks. But that being said ... higher gas prices at the pump is a tax on every american and hurt the lower income bracket the most. Wouldn't Obama and the dems want lower pump prices so more money goes in to the US economy creating US jobs?
But just like Obama and the dems are against expanding drilling in the US that would create US jobs ... there is resistance for this bill as well.
Someone needs to tell Obama that sticking his head in the sands and being critical of a well thought out energy policy does not solve the problem. It is time for him to lead. If that is possible. I am sure he needs to check with George Soros ... who appears to be running the country and calling the shots.
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| Name: |
Talullahhound
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| Subject: |
Pickens Plan
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Date:
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4/13/2011 9:08:05 AM
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I've been watching Pickens too. I think he's pretty solid. I'm surprised his plan hasn't gotten more play.
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| Name: |
MartiniMan
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| Subject: |
Take Pickens with a grain of salt
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Date:
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4/13/2011 9:45:44 AM
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I lost most of my respect for T. Boone when he bet heavily on wind power, started to look like he was going to lose his shirt and then went to the Federal government to try and save his investment through legislation. I can assure you that if T. Boone is all of the sudden hot and heavy on natural gas it is not out of a sense of patriotic duty or love of country. He is in it for the money.
Having said that, there is no doubt we need to rely more on natural gas and coal, both of which are in great supply in the U.S. The appeal of natural gas is it can replace oil but it will only happen if the economics drive the infrastructure investment. While I can find gas for my car on every other corner I am not aware of one natural gas filling station.
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| Name: |
MAJ USA RET
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| Subject: |
Take Pickens with a grain of salt
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Date:
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4/13/2011 9:50:02 AM
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You plagiarize my thoughts!
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| Name: |
MrHodja
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| Subject: |
Take Pickens with a grain of salt
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Date:
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4/13/2011 9:51:40 AM
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There's a natural gas filling station at the San Jose airport....
Might not be economically feasible to use it though...:>)
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| Name: |
water_watcher
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| Subject: |
Take Pickens with a grain of salt
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Date:
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4/13/2011 10:16:04 AM
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MM, he has been pushing this plan for 3 years. I agree on the wind farm he invested in ... but he has been consistent on Nat Gas that it is a way to reduce imports of oil. He thinks we should drill more domestically too ... but he is attacking imports through independent legislation rather than a combined energy plan that no one ever agrees on, so nothing is done.
I am sure he profits from this as well ... but the guy is in his 80's. Not sure the next dollar is that critical to him.
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| Name: |
MartiniMan
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| Subject: |
Take Pickens with a grain of salt
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Date:
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4/13/2011 10:47:29 AM
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WW, I'm not disagreeing with his views on this, but after the wind farm thing I seriously doubt his motivations and thats all. He is a very smart businessman and very innovative but he bet wrong on wind and tried to bail himself and his investors out at the expense of the taxpayer. I do not appreciate that approach but otherwise have no real problems with him.
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| Name: |
Talullahhound
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| Subject: |
Take Pickens with a grain of salt
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Date:
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4/13/2011 2:41:28 PM
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But what have you got against wind? I don't think we should put all our eggs in that particular basket, but as part of an overall strategy, why not?
T.Boone has said that he is not in it for the money, because he has all the money he will ever need. He just feels it's the right way to go. Whether that it true or not, who knows? But, I don't see anything wrong with pursuing natural gas too. It may not make sense for cars, but for other uses, why not? And I believe his domestic drilling that he favors is for natural gas reserves, not domestic oil.
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| Name: |
MartiniMan
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| Subject: |
Take Pickens with a grain of salt
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Date:
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4/13/2011 3:49:12 PM
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What do I have against? Well, lets start with it doesn't work. I just read a study on wind power in Europe and it is a disaster. They have spent billions of dollars on wind power projects and they still only comprise a very small percentage of the power generation in the country. And guess what, last year when demand was the highest, wind power provided essentially zero power. It is unreliable and too costly. There have also been a number of studies that demonstrated that green energy technologies like wind actually cost jobs.
As for Pickens and his altruistic motivation all I can do is guffaw. See below his response to an late 2010 interview question about his business interests.
MR. PICKENS: Gas holdings? Sure, I've got interest in gas companies. What else can I say. Yeah, that's my business. I mean, that's what I know. I'm a geologist, and gas and oil is it.
Interestingly, his wind and gas interests intersect very nicely. His wind power investment begins to break even when natural gas goes to $7-$8 pmcf. What a better way to do that than increase demand for natural gas. And who profits on this coming and going? T. Boone Pickens.
And I will restate what I stated earlier, I do not disagree with his conclusion but am highly and I believe reasonably so skeptical of his motivation. As long as his crusade doesn't distort natural market forces I am all for it. But I seriously doubt he is willing to wait for that to happen and is trying to gin up public support for government intervention to make him more millions.
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| Name: |
Talullahhound
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| Subject: |
Take Pickens with a grain of salt
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Date:
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4/13/2011 5:29:18 PM
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Heck, I've got gas stocks (and oil stocks). And they've done very well. No point in investing money to lose it.
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| Name: |
MartiniMan
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| Subject: |
No argument there!
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Date:
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4/14/2011 8:33:55 AM
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