T. Boone Pickens Announces Alternative Energy Plan

Texas oilman T. Boone Pickens has announced his plan to reduce America's dependency on foreign oil, emphasizing the extensive transfer of wealth out of the country it has caused. His plan relies on natural gas vehicles and increasing wind power.

In the past week, Pickens has talked with the Democratic and Republican leadership on Capitol Hill to gather support for his two main proposals: a $1.2 trillion plan to generate much of the nation's electricity through a chain of windmills and a federal mandate to shift Americans away from gasoline-fueled cars and into vehicles fueled by natural gas."

"The nation imports $700 billion in foreign oil per year, which Pickens describes as the greatest transfer of wealth in the history of the world. He said he fears that if the United States remains so dependent on foreign oil, it will be at the mercy of the oil-rich nations of the Middle East and other foreign powers.

'This is an emergency,' he said yesterday. 'This is like a war. The national economy is at risk here.'"

Full Story: Pickens pitches plans to shift U.S. away from oil

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