T. Boone Pickens Finds Flaws In Presidential Contenders' Energy Plans

WASHINGTON - Energy titan T. Boone Pickens is less than impressed with the energy plans that have been floated by President Barack Obama and his likely White House challenger Mitt Romney.

Speaking to Dow Jones Tuesday, Pickens said Obama's "all of the above" energy plan needed to be "more specific" and said Romney's plan is "not total."

Pickens didn't endorse either candidate, but said "I'm going to come out for the candidate who has an energy plan."

Pickens has had his toes in political waters for several years, pressing members of Congress to pass legislation that uses tax credits to encourage the use of natural gas in trucking fleets.

That legislation hasn't yet gained the necessary traction, most recently stalling as an amendment to a transportation bill. Pickens said he thought the measure would eventually pass. But regardless of whether it does, "I'm retiring from Washington after this," he said.

Pickens is one of the most vocal supporters of U.S. natural gas and has urged lawmakers to create policies that wean the country off foreign oil imports.

For several months now, Obama has characterized his energy plan as an "all of the above" approach that relies on oil and natural gas, as well as nuclear, wind and solar power.

Earlier this year, House Republicans attacked the president for leaving out "coal" on his campaign website, but the campaign quickly added "clean coal" under a description of the president's energy plan.

Coal is found in abundance in the U.S. and is used to generate electricity, but it creates more air pollution than natural gas when it is burned.

Obama has increased support of U.S. natural gas, saying it could replace oil as a transportation fuel and supplant coal as a source of electricity generation.

Speaking to Dow Jones, Pickens criticized the president for withholding approval for the Keystone XL oil pipeline, which would stretch from Canada to Texas and carry several hundred thousand barrels of oil from the Canadian tar sands.

The U.S. should create an alliance with Canada and Mexico to strengthen ties for energy imports and exports, Pickens said. His opposition to foreign imports is focused on oil from the Organization of the Petroleum Exporting Countries.

Romney also has been critical of the president's position on the Keystone pipeline. His energy plan calls for the pipeline to be approved, along with greater production of U.S. energy resources through streamlined regulations.

Copyright (c) 2012 Dow Jones & Company, Inc.

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Eric Ersland | Jun. 1, 2012
There are a few people in the spotlight over the years that make good sense and with good intentions they try to help our nation, put skin in the game, yet for some reason they dont get anywhere. I have been paying attention to Mr. Pickens over the years and its beyond my capacity of logic and reason that this man seems to get nowhere with his energy plans. I once heard someone put it like this,"were just not good old Americans like we used to be" I know T Boone Pickens is and I must be the only other one left, two good old Americans. Once we figure out why someone like Mr. pickens cant get a very solid plan moving forward, our energy picture will look better and things will be better next week than last week. Eric Ersland Williston,ND

dc | Jun. 1, 2012
While it would wreck quite a bit, $7/gal gas would force us into alternatives more quickly and more painfully. However net result would be NG cars as it is the only quickly available energy source in enough volume to be substituted quickly. you would also see a lot of electric golf carts going around town.

THOMAS JONES | May. 30, 2012
WHY DOES T. BOONE WANT TO SUPPLY FOREIGNERS WITH U.S. REFINED PRODUCTS THAT ORIGINATE IN CANADA. THE KEYSTONE CANADIAN OIL WILL NOT DRIVE DOWN PRICES FOR AMERICAN CONSUMERS BUT WILL DRIVE UP PROFITS FOR U.S. REFINERS. THE AIR POLUTION WITH HIGHER CONTENT OF ARSENIC, MERCURY AND OTHER WILL HAVE A TRAGIC LONG TERM IMPACT ON S.E. TEXAS AND S.W. LOUISIANA ! PUT THE CANADIAN OIL IN AN EXPANDED STRATEGIC RESERVE PLAN UNTIL WE HAVE 5 BILLLION BBLS IN RESERVES.

clyde williams | May. 29, 2012
Pres. Obama says one thing and does the complete opposite. He has no energy policy but likes to talk the talk. Pres Obama is more interested in helping the Lobbyists that got him elected than doing whats right for America. His own energy secretary stated he wanted $7.00 a gallon gas! If he had any common sense he would know that the whole economy will stop in the process! The country is going to hell in a hand basket and the liberal press is cheering Pres Obama on all the way! Personally I think the Pres couldnt do a better job of wrecking the country if he was trying to do just that! Mitt Romney on the other hand is at least pro business and not Anti american. These politicians will say and do anything to get elected. How Mr. Romney will really govern is unsure but I prefer him over Pres Obama as he is more business friendly.

Chuck Shepherd | May. 29, 2012
How about we take a look at Ron Pauls energy plan... http://www.issues2000.org/2012/Ron_Paul_Energy_+_Oil.htm


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