Boone Pickens plan for solving our oil problem

July 8, 2:41 PMGlobal Warming ExaminerJohn Ryden

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Boone Pickens

The US is now importing about 14 million barrels of oil each day or almost $700 billion per year. This tremendous outflow of cash is a major cause of our huge trade deficit. It is causing major pain to our economy.

Boone Pickens presents his plan to use wind power to decrease our dependence on foreign oil. He wants to use more domestic energy by producing vehicles that run on natural gas instead of oil. His plan is to rapidly develop wind power to free up the natural gas we currently use to generate electricity and use it to power our cars. General Motors makes 19 different models of cars that run on natural gas according to Pickens, but doesn’t sell any of them in this country.

http://www.cnbc.com/id/25582244 (includes Video)

Boone is putting his money where his mouth is by funding a $10 billion project to build a 4 Giga watt wind farm in Texas. What I like about his plan is that it makes use of natural gas as a bridge fuel to replace our dependence on foreign oil. While his plan calls for more fossil fuel development, it utilizes cleaner natural gas while we continue to build our renewable infrastructure. The path to solving global warming will probably not be a straight line. We have to remember that we need to do things now that are economically and technically feasible. Boone’s plan is not a total solution to our energy and global warming problems, but starts moving us in the right direction. It also has the advantage that it is private investment and does not require large amounts of public funding.