Wednesday, July 23, 2008

When a Rich Man Spends This Much Money...

...be wary

I can't watch TV without seeing this old guy's face warning me about our dependency on foreign oil.



So, just who is T. Boone Pickens? That's one Texas-styled name, isn't it? Learn more about him here.

Some highlights:

  • Supported George W Bush
  • Supported Rudy Giuliani
  • Supported the Swift Boat effort against Kerry
  • Corporate raider
  • Chairs a hedge fund
  • Was a frat boy
  • Flirted with a presidential run
  • Is pretty rich
On a positive note, he is devoted to philanthropy. In 2005, Mr. Pickens donated $165 million to Oklahoma State University. Interestingly, The New York Times noted that "the money spent less than an hour on December 30 in the account of the university's charity, O.S.U. Cowboy Golf Inc., before it was invested in a hedge fund controlled by Mr. Pickens, BP Capital Management."

I'm not saying riches make you a bad man. I'd love to be rich. But like T. Boone, I'd likely spend a lot of money looking after my own money. Whatever this guy is suggesting, keep in mind that it will benefit him.

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4 Comments:

  • This guys kills me. He is also invested heavily in an wind mill farm in Texas. And the only real solution to the energy crisis not not bio fuels or wind energy, it's nuclear energy.

    By Anonymous Anonymous, at July 23, 2008 at 10:26 PM  

  • At least he's spending his own money to fuel a national conversation (along with a town in Texas) about a gigantic problem in need of a solution. As for him looking out for his own money, the presumption you make is that self-interest necessarily precludes public interest, which I don't buy. If I came up with a plan to reduce our dependence on foreign oil and made an investment in it, I would certainly hope I'd get paid somewhere down the road.

    His plan, as I understand it, is meant to bridge across the next few decades until technology, and probably adjustments to our own behavior, deliver a more permanent solution.

    What disturbs me is not the Pickens Plan itself but the fact that it was created out of necessity by the private sector because there has never been any leadership on the topic of energy from our elected officials, at least none that can generate critical mass.

    Further, I'm encouraged by the fact that Al Gore and Mr. Pickens have been in contact on the subject by phone, though they disagree on a key point. The fact that they talked leads me to hope that politics are taking a back seat.

    I think of the Pickens Plan as a starting point. It's open to debate for people who dive into the community. At a minimum, he's right about the problem, and I doubt we have the luxury of time in coming up with the solution.

    By Anonymous Anonymous, at July 24, 2008 at 9:49 AM  

  • Not a bad thing to make money.

    So build the wind farm with your millions instead of spending $68 million to run ads. Just fucking do it and prove that it can be done, then let the power companies tap into your farm and make your money.

    What's wrong with the old model of Flagler or Carnegie, rich guys who went out and spent their money on the solutions we needed and profited as a result.

    Do we need a big costly "conversation"? Does Al Gore really need to be a part of it? Build the damn farm, T-Boone. Show me.

    By Blogger RFB, at July 24, 2008 at 3:11 PM  

  • I agree with everysandwitch..he is putting out a lot of his own money .. to build these infrastructers in texas...and presumably on research before building...he is not just talking.. he is taking the initiative to americans that it can be done... and i honestly don't think he is doing this to get richer...he is rich enough.. he is nearing the end of his life..and he sees that america is continueing in the wrong the direction if the wrong leadership is elected into office...thats why he has spent 68 million $ of his own money on ads jus before the november election b/c its more effective (more viewers)..america must unite in order to save our future and future generations....now this is the 2nd long time republican person that is a well respected top executive in the oil industry this week that has been envisioning alternative energy for years and turned democratic recently b/c they know the'oil time-line' is coming to an end and america cannot afford the inevitable rising prices of dependent foreign oil..which has crippled our economy.. which inturns funds terrorism.. which is why we got hit on 9/11 and got stuck in the war in Iraq that we can't seem to get out of...it is and endless cycle unless america wakes up and realizes this... but the thing is ..this cycle will eventually break b/c there will be no more oil or americas bank will run dry....do something about it now or suffer the consequences... the future is comming... whether we are ready for it or not...

    By Anonymous Anonymous, at September 28, 2008 at 4:40 PM  

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