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General discussion about
America's energy dependence and
a plan to methodically eliminate
that dependence... known as "The
Pickens Plan" |
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Jim:
In this
environment... tough
environment... we
have to look for
great secular growth
themes, ones that
work that work
regardless of the
strength of this
economy or any
economy in the
world, because we
know we're heading
into a severe and
deep and painful
recession.
Now, I think one of
these themes could
be energy
independence,
okay... regardless
of whether the
economy goes up or
down, you know we've
got to be that...
even though oil
continues to get
hammered.
In last night's
debate, both
candidates talked
about achieving some
sort of energy
independence, and
some sort of getting
away from addition
to foreign oil, but
you know
something?...
Nobody's talking
about the "Obama
Plan" or the "McCain
Plan"... The only
plan that I think
matters is the
"Pickens Plan"...
the oil man, turned
advocate of wind
power and natural
gas, as better
energy independent
fuels.
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Continued below...
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Market Results
today:
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Dow:
+ 401
(+4.68%) |
Nasdaq:
+ 40
(+5.49%) |
S&P
500:
+
38
(+4.25%) |
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Thursday,
October 16, 2008
(Cont'd from
above)...
Now, I like what
Pickens has
proposed. Anybody's
who new to the
show... you've got
to know that. But
anybody who's been
with us a long time,
knows that I have
been hounding and
hounding and
hounding this. He
supports a plan to
spend $1.2 trillion
to build wind power
facilities in the
middle of the
country, from Texas
to North Dakota...
something we've been
in favor of. We
think that could
produce as much as
20% of America's
electricity.
Consider it a
Marshall Plan for
power... a Marshall
Plan that helps us.
You know we love
wind here on Mad
Money... the
cleanest, greenest
and cheapest source
of alternative
energy... 4 cents a
kilowatt.
The other part of
the Pickens Plan is
to use natural gas
as a fuel for
automobiles, which
works as a
transition fuel... a
short-term
alternative to oil,
until other
alternatives can be
found.... because
natural gas is
cheaper than oil,
cleaner than oil
and, unlike oil,
we've got a ton of
it in America.
In the past, we've
talked about
Clean Energy Fuels Corp.
(CLNE)...
a company that's
building up natural
gas fueling stations
all over the
country, and a
company that Mr.
Pickens and his
wife, together, own
about 40% of.
I think the Pickens
Plan looks great on
paper but, with oil
becoming cheaper,
the economic hurdles
may be harder to
jump, so I think
it's time to talk to
the man himself...
Boone Pickens, the
man with a plan.
Boone Pickens,
welcome to Mad
Money...
Jim's comments
AFTER the interview:
Thank you very much,
Boone Pickens, it's
great to have you on
the show...
Read Jim's next Segment
here
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