You might expect the founder of the largest independent oil company in the country to be pleased about the high price oil is fetching in America.
But T. Boone Pickens, founder and manager of the hedge fund BP Capital of Dallas, today outlined a plan for the United States to end its dependence on foreign oil.
The Pickens Plan, as he’s dubbed it, calls for greater energy independence and emphasizes increased investment in solar and wind energy, according to published reports.
Mr. Pickens said the United States imports nearly $700 billion in foreign oil, and noted that the proportion of oil that comes from foreign sources is up to 70%.
He has put his money where his mouth is, investing in a new wind farm in Sweetwater, Texas, according to Marketwatch.
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