T. Boone Pickens Statement on President Obama’s Earth Day Speech in Iowa

(BUSINESS WIRE)--T. Boone Pickens offered the following comment on President Obama’s speech yesterday at the Trinity Structural Towers wind energy plant in Newton, Iowa.

“President Obama’s Earth Day message couldn’t be more important: Congress needs to act now to advance the creation of renewable energy jobs—a vital component of the comprehensive energy reform we so urgently need.

The ability for America’s workforce to adapt to the changing marketplace is key to our recovery from the recession. One of the fundamental elements of the Pickens Plan is the need to embrace the abundant opportunities we have to develop a vibrant alternative energy supply that will revitalize our economy, bringing jobs and families back to the heartland. Newton is a prime example of this transformation—a town that was struggling after its biggest employer was sold and shut down manufacturing operations is now a model for job creation. Helped by business incentives and tax breaks, the former Maytag plant is now thriving under Trinity, turning out towers that will support the very turbines that can develop this region into the Saudi Arabia of wind.

It is important to remember that our work on an energy plan is not done. We need to continue focusing on reducing our dependence on foreign oil and to do that, we have to target transportation and replace foreign diesel with domestic alternatives such as natural gas. Congress needs to act now to adopt a national renewable electricity standard in order to create a real long-term commitment to renewable energy in America, creating thousands of good jobs. It is time to move now to reform our energy policy. Congress has the unique opportunity to act and protect our economy and our security. I agree with President Obama’s vision that will retrain idled workers, revitalize shuttered manufacturing towns, and adapt to a new, green economy.”

About the Pickens Plan

Unveiled on July 8, 2008 by T. Boone Pickens, the Pickens Plan is a detailed solution for ending the United States’ growing dependence on foreign oil. Earlier this year, when oil prices reached $140/barrel, America was spending about $700 billion for foreign oil, equaling the greatest transfer of wealth in human history. That figure has decreased some while oil prices have retreated, but the U.S. is still dependent on foreign nations for nearly 70 percent of its oil, representing a continuing national economic and national security threat. The plan calls for investing in power generation from domestic renewable resources such as wind and using our abundant supplies of natural gas as a transportation fuel, replacing more than one-third of our imported oil.