I don’t know if you have seen the series of advertisements on TV recently – you know, the one with the oil baron guy – T. Boone Pickens talking about how he has a plan to reduce America’s dependency on oil with a plan to invest in alternative energy. He doesn’t seem to be trying to do another Ross Perot, which is the first thought that struck me, but an oil man interested in reducing our dependency on oil? It is certainly novel, if nothing else.
Pickens’ Plan calls for a $1 trillion investment in a series of wind farms across middle America, with a further $200 billion investment needed for the infrustructure to transmit the resulting electricity to the national grid. This might seem like a huge amount of money but, as Pickens points out – that is a one time cost which has to be seen against the on-going $700 billion spent on an annual basis on foreign oil.
Either way, oil is not going to last forever, so if you are thinking about investing in the energy market, companies looking to alternative supplies could be a good long-term bet.
If you want to check out the “Pickens Plan” for yourself you can visit his website at www.pickensplan.com and make up your own mind!
Tags: Alternative Energy, Invest in Energy, Pickens Plan, T. Boone Pickens, Wind Power
