Natural Gas Commodity
T. Boone Pickens seems to be becoming somewhat of a joke, as his true strategy for making money on energy has nothing to do with real concerns about alternative energy sources, but in using the government to change laws in order to help get access to taxpayers' dollars in order to make profits for his companies.
Remember his seemingly endless number of commercials on hyping wind power as an answer? He has already dropped that fad and now is going on to using natural gas in automobiles.
The wind power initiative has been a joke and disaster for Pickens, who spent upwards of $62 million in attempts to get Americans to buy into his plan, which he completely failed at. His excuse is cheap gas makes using wind power far less competitive. You mean a smart oil man like Pickens didn't know that when he started this fiasco?
Where the truth concerning Pickens and his new natural gas religion is he has large stakes in some companies which would benefit him strongly if consumers started to use even more of the energy source.
The strategy behind Pickens' efforts is completely related to government involvement based on tax incentives and changes in the way they run government-owned transportation. This is just another way of saying there is no market for vehicles to be run by natural gas, so he is attempting to force one by attempting to get Congress to being to change fuel from gasoline to natural gas. Supposedly this will cut reliance on foreign oil imports by 8 percent over the next seven years.
Now that his attempt at having thousands of those extraordinarily ugly and low-level energy producing wind turbines placed across North America has failed, this is another attempt at trying to create a market which doesn't exist by persuading the government to change to natural gas. This is all a joke, and the sooner we realize it the better, as we won't have to listen to those stupid commercials put on television by Pickens concerning his seemingly endless addiction to fads.
While this is all about money and currying government favor, it stems from the inability for Pickens to compete any more in the oil markets, which is why he's attempting to position himself as an alternative energy champion, when in fact it's only about the bottom line for him.
Natural Gas Commodity