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T. Boone Pickens, Jr.
Latest T. Boone Pickens, Jr. Items
If we can get your attention off Dred Scott II — the Supreme Court decision on health care costs with its byzantine political implications — something perhaps as fundamental for the U.S. and world economies is happening: a second fossil fuel revolution.
Businessman T. Boone Pickens and other proponents of energy subsidies claim Congress must subsidize the conversion of trucks to natural gas in order for companies to convert from petroleum-based fuels to less expensive natural gas.
For the last few years oil magnate T. Boone Pickens has had one chief goal: to get the government to push natural gas, particularly onto the country's fleet of commercial trucks.
Democrats are fond of playing the class-warfare card in calling for tax hikes on "millionaires and billionaires." It's their way of pretending to stand for the little guy. The latest actions in the Senate, however, show they stand more with the ultra-wealthy than with middle-class taxpayers.
The other day, the estimable Wall Street Journal editorial board took issue with the equally estimable T. Boone Pickens, the legendary oilman, over the Nat Gas Act. The Journal argued with its customary lucidity that Mr. Pickens' idea of subsidizing natural gas, even for a short period, was ill-advised. To my mind, the Journal left one argument out, to wit: national security.
T. Boone Pickens is truly a piece of work. The Texas billionaire has been at various times a champion of free markets and a major backer of conservative causes and candidates, but he has morphed into an unapologetic advocate of government subsidies and mandates.
Republicans in Congress seem to be having an identity crisis. More than 80 of them have signed on to a bill that has the blessing of President Obama, Senate Majority Leader Harry Reid, House Minority Leader Nancy Pelosi and even that pillar of liberalism, Al Gore. Unfortunately for the co-sponsors of H.R. 1380, known as the T. Boone Pickens natural gas bill, the conservative grass roots elements that swept them into office last year are beginning to notice.
Last week was the culmination of a process begun years ago. A bill was introduced in Congress that can end American dependence on foreign oil. What is called the New Alternative Transportation to Give Americans Solutions Act - more simply put, the Nat Gas Act - came to Congress on April 6. It had bipartisan support. It ought to pass and pass promptly. It could be called the Boone Pickens Bill.