Sunday, October 26, 2008

60 Minutes: T. Boone Pickens

We've written quite a few stories on Mr. Pickens [Jul 8: Readers Homework - Do Your Pickens] [May 20: Boone Pickens - Oil to $150 by End of Year] and 60 Minutes also had a comprehensive story this weekend, although blog readers will be familiar with much of it. Amazingly his hedge fund is down 50% although we reported he had an awful July in mid August; according to this weekend's report he's down from $4 billion to $2 billion in the hedge fund.

If you've been watching television lately, chances are you've seen a white-haired Texas oil man promising he can save America from foreign oil by using wind power, solar energy and domestic natural gas. He's T. Boone Pickens, and he's playing the role of pioneer and provocateur, in a massive national campaign warning of an energy crisis as dire as the current financial one.

As 60 Minutes contributor Charlie Rose reports, Pickens says he has a solution - a plan that might sound unrealistic in the current economic climate - but one he hopes will be good for the country and good for Boone Pickens.

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