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Pickens Calls For Emphasis On Alternative Energy

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Jul 8, 2008 10:07 am US/Central

Pickens Calls For Emphasis On Alternative Energy

HOUSTON (AP) ― Texas oilman T. Boone Pickens says he'll fund a multimedia advertising campaign to focus the nation's attention on what he calls the single biggest crisis facing the country today: its dependence on foreign oil.

The former wildcatter, who now heads the Dallas-based hedge fund BP Capital Management LP, outlined his concerns and potential solutions at a news conference in New York.

Pickens wants to bring energy to the forefront of the presidential campaign.

His plan calls for private investment in power generation from renewable energy resources such as wind and using the nation's abundant supplies of natural gas.

Last year, Pickens announced plans to build the world's largest wind farm in Texas. The cost of the project could grow to $12 billion before its scheduled completion in 2014.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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