“On the surface, Texas billionaire T. Boone Pickens appears to be the man with all the energy answers,” said Amy Ridenour, president of the National Center for Public Policy Research.  “Pickens says his ‘Pickens Plan’ can cut America’s dependency on foreign oil by one-third over the next ten years.  It sounds attractive at a time when Capitol Hill is getting nowhere in the pursuit of energy independence.  But would the Pickens Plan really work?  What would it cost taxpayers?  Do parts of it raise Constitutional questions?  And would private parties – including Mr. Pickens himself – benefit financially?”

“A man on a mission, Pickens has set aside $58 million to ensure his energy plan is heard loud and clear,” added Ridenour, “and he’s got people listening, but America should not choose an energy policy based on the appeal of a billionaire’s folksy commercials.  The fine print must be examined.  In this case, the fine print reveals the Pickens Plan requires billions in government subsidies and the widespread use of government eminent domain powers.

“If the Pickens Plan is really all about doing what is best for the country and not for himself, Pickens could demonstrate his sincerity by renouncing the government subsidies he is lobbying for.  That should be easy for a man who says he doesn’t need any more money.”