Financial Briefs

Breaking financial news from Wall Street to Main Street

Pickens’ natural gas nation

Posted by financialbriefs on September 26, 2008

T. Boone Pickens, the 80-year-old oilman-turned-hedge-fund-manager, has already promised to pay $60-million (U.S.) of his own money to push his vision to reduce U.S. dependence on foreign oil. Now he is convinced he has worked up a way to drive the message home in Washington, with a burgeoning grassroots lobby force he calls his “army.”

The Texas billionaire says he has dropped a billion in the recent turmoil, but the recent painful pullback in oil prices has not shaken his conviction as a long-term energy bull, or his belief that the largest economy in the world has to source more of its energy needs at home.

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