T. Boone Pickens, a billionaire with large natural gas holdings, is spending more than $50 million to convince US politicians and the public that natural gas should become a transportation fuel and should be priced much higher. Gasoline costs ten times as much as natural gas when compared on energy content. To make his case, he also wants to invest in wind power for electricity generation. This second move is intended to avoid a major increase of electricity costs as a result of increasing natural gas prices and to make his proposal politically more attractive.T. Boone Pickens is a businessman. He wants to increase the value of his holdings. He may also provide a service to his country. The US is hopelessly naïve in understanding energy, its countless blessings, and its very serious, perilous, and pitiless shortcomings. The public and its political representatives must begin to understand world energy markets and the hidden, external costs of energy. Mr. Pickens’s advertising campaign will put some light on world energy markets and will not be appreciated by oil companies. His efforts are bound to contribute to a better understanding of energy and its […]

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