Billionaire Oil Barron Has Renewable Energy Plan

If you are fed-up with waiting for the government to solve our current energy crisis, maybe you should read the Pickens Plan for America's energy challenges. Billionaire T. Boone Pickens made his fortune on oil and now he is betting that fortune on a future of renewable energy projects and natural gas.

Today the entrepreneur and philanthropist unveiled his plan to reduce U.S. dependency on foreign oil by more than one-third and shift our energy sources to renewables and natural gas. He decided to confront the issue of oil reliance when he saw the destructive toll gas prices were having on our economy.

Currently, Pickens' efforts are directed at developing more wind energy. He says he cannot believe America is not better utilizing wind energy. "Wind power is ... clean, it's renewable. It's everything you want. And it's a stable supply of energy," Pickens told CNN in May. He will spend $2 billion on a new wind energy farm in Pampa, Texas as part of a multi-billion dollar plan to build the largest wind farm in the world there.

Wind energy farms along the nation's "wind corridor" (the area stretching from Canada to West Texas) could produce 20% of America's electricity. More importantly, the energy produced by wind could fuel power plants that are currently burning natural gas for fuel. Freeing up the natural gas will allow it to be used by consumers in vehicles.

It is very simple and cheap to outfit vehicles so they can run natural gas. A $100 mechanism is added to the car, which allows it to burn both regular and natural gas. Because the United States currently accesses natural gas from the ground and has large deposits of natural gas available, Pickens sees us saving $230 billion a year by following his plan.

Pickens is a lifelong Republican but he is not endorsing a Presidential candidate this year. He says he will work with whoever is elected. If you'd like to read his plan and get more information about the proposal, visit his website HERE.