T. Boone Pickens Bullish on Clean Energy Future, Oil
|August 5th, 2009||
|T. Boone Pickens of BP Capital still believes that wind energy will be a critical source of America’s future energy supply. Depressed short-term demand for renewables, reflective of low energy prices, is constraining the transition in the shorter term from dirty energy to clean energy. However, according to a recent interview with the Motley Fool, Pickens believes relief may come sooner than expected. |
With the Natural Gas Act, a bill giving incentives to switch to natural gas automobiles, moving through Congress and a bullish prediction of $75 Oil in December, Pickens says the transition will be seamless. Despite these bullish sentiments, his Pampa Wind Project, the world’s largest, is still scheduled to be postponed until 2013.
According to the article, BP Capital’s energy futures fund is up 79% and the energy equity fund is up 14%. For the moment, T. Boone is particularly interested in exploration and production (E&P) companies as they will provide the energy sector with additional reserves in the shrinking supply of global oil.
T. Boone currently serves as the Chief Investment Officer of BP Capital Management, an energy-focused hedge fund management firm that he founded in 1996.
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