To access my current posts, click the following link:Notes From a Cyber Trader___________________________________________________________________________________________________________________________________________Of Note:T. Boone Pickens, the Texas oilman and billionaire went to Calgary on Thursday to speak to a Chamber of
Commerce audience that included 770 of the city's business,law and engineering leaders.
He spoke about his "Pickens plan" to lead the United States toward energy independence.
The only loser in this deal is foreign oil. And I don't call you foreign._________________________________________________________________________________________News from The Globe and MailOilman says his 'Pickens plan' will be good for Canada
June 18, 2009
CALGARY -- T. Boone Pickens doesn't shy away from a fight - or a good quote. The Texas oilman and billionaire came to Calgary yesterday to speak to a Chamber of Commerce audience that included 770 of the city's business, law and engineering leaders.
In a speech peppered with stories about his life and the industry that has made him wealthy, he spoke about his "Pickens plan
" to lead the United States toward energy independence.Since announceing his plan last July, he has spent 163 days and $58-million (U.S.) of his personal stash to promote it.
Here's a sampling of his remarks. Some came during his informal speech, others from a discussion with Toronto-Dominion Bank deputy chairman Frank McKenna
, others from a conversation with reporters.On how a move to U.S. energy independence affects Alberta:
I see that as we start to cut into those imports, that Canada gets all of [the U.S. import needs] that they want. ... The only loser in this deal is foreign oil. And I don't call you foreign
.On an energy plan for the U.S.:
We will get it this year. ... It's going to be good for America. It's going to be good for Canada
. It's going to be good for the producers. It's going to be good for everybody.On the need for an Alaska or Mackenzie natural gas pipeline:
All the proven gas on the Arctic coastline is 39 trillion cubic feet. That's not as much as you have in the Barnett shale, that's sitting over there underneath Fort Worth. ... The pipeline from Alaska through Canada and down to the Lower 48 - it doesn't make sense
.On those who call the oil sands "dirty oil":
There's so many people that comment about energy, and a great number of them don't know a damn thing about what they're talking about. ... We get oil from the Mideast and they're flaring a great amount of natural gas over there. ... We've got oil coming from Alberta, and do they flare gas? No.
... So you need to look at the whole picture.On oil prices in the next year:
The Kuwait [oil] minister popped in last week and said we need $80 to $100. So now I think $80, $85
.On the cost of going green:
You can go in a room and say, "Raise your hands if you're an environmentalist." And yeah, the hands will come up. Then you say, "OK, it's going to cost you $1,000. Now show me [your hands]." None. ... That environmentalist stuff does not run deep enough to get into the pocketbook.On subsidies for wind power:
There are 987,000 megawatts of electricity in the States, and if you do 200,000 [with wind] ... that would carry a production tax credit of $15-billion a year. And it would be built over a period of 10 years, so you've got, say, $150-billion there. This year we'll pay $400-billion for [foreign] oil. So everything you do for yourself to get your dependency down ... is cheap in comparison
.On Alaska Governor Sarah Palin:
She's pretty well informed on Alaska energy. Outside of Alaska energy, she knows very little. ... I mean, [Republican presidential candidate John] McCain, he went to Mars to get a running mate. ... I would give 20:1 odds - more, 50:1 odds - that she's not going to be the candidate for the Republicans
...Thanks for checking out my page. Red Mars