01 Oct 2008 We Didn’t Ask for an Apology, Mr. Pickens

Washington, DC – The following is the response of National Center for Public Policy Research President Amy Ridenour to T. Boone Pickens’ response* when a reporter from the Detroit Free Press asked him about the National Center’s new paper, “The Pickens Plan: Questions Unanswered,” by Reece Epstein and David A. Ridenour:

“We didn’t ask for an apology, Mr. Pickens, we asked about the Pickens Plan.

Specifically:

Has oil production finally and irrevocably peaked, as you claim? 

Why use wind power instead of nuclear power? 

Are natural gas-powered vehicles a viable alternative to gasoline-powered cars?  Would switching to them improve America’s security?

What does Mr. Pickens believe the federal government should do to make his plan a reality? 

Might Mr. Pickens or the firms he owns benefit financially from such federal aid?

These are reasonable questions.  Your response, ‘I’ve never apologized for making a profit, paying taxes and creating jobs,’ seems off the point at best.

The Pickens Plan, if adopted, would enrich your business enterprises by billions of dollars.  We can well believe the Pickens Plan is the best option for you, Mr. Pickens, but is it best for other Americans?  That’s the question our paper seeks to answer.”

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* From the Detroit Free Press:

“A conservative think tank issued a report Monday criticizing Pickens’ plan as self-serving. The National Center for Public Policy Research in Washington said his plan would require billions in government subsidies, from which Pickens would profit. He is CEO of BP Capital LLC, a hedge fund that invests in wind and natural gas. Clean Energy Fuels Corp., which he cofounded, also owns 170 of the 500 existing natural gas stations, so he would benefit from more natural gas-fueled cars, the research group said.

His response: ‘I’ve never apologized for making a profit, paying taxes and creating jobs.'”

-Tina Lam, “T. Boone Pickens finds new allies in fuel plan,” Detroit Free Press, October 1, 2008, http://www.freep.com/apps/pbcs.dll/article?AID=/20081001/BUSINESS06/810010389