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T. Boone Pickens: Biggest Deterrent to U.S. Energy Plan Is Special Intrest and Lobbying Groups, Specifically Koch Industries

May 03, 2012 | About:
Dheeraj Grover

Dheeraj Grover

18 followers
Investor T. Boone Pickens has made a fortune over the years running an energy-oriented hedge fund, and in recent years he's been placing big bets on the natural gas and wind industries.

The 83-year-old founder and CEO of BP Capital has been one of the most fervent supporters of natural gas, promoting its usage throughout the country and trying to convince lawmakers, including President Obama, that natural gas could be the energy solution that ends the nation's dependence on foreign oil.

He was on Yahoo! Daily Ticker to discuss the future of natural gas in the U.S. and his expectations on the price of natural gas come this summer. He thinks the worst is over for natural gas prices. He said, "It's pitifully low, but we have probably seen the bottom"

He predicts that oil will be $4 per gallon come this summer. He also predicted that Israel will get in conflict with Iran in August or September and oil prices will spike which will be good for natural gas prices.

Pickens' biggest concern right now centers on what he sees as the Obama administration's lack of an energy policy. He says special interests are blocking real energy reform, and he singles out Koch Industries, a chemical, fertilizer and refining juggernaut run by brothers David and Charles Koch, as the main culprit.

Here is the video:

About the author:

Dheeraj Grover
I am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne

Rating: 3.0/5 (3 votes)

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