T. Boone Pickens Statement on Signing of Economic Stimulus Plan

Stimulus Provides A Start for Energy Investment But More Needs to Be Done to Reduce Nation’s Dependence on Foreign Oil and to Develop Serious Energy Policy

Dallas, TX, February 17, 2009 – T. Boone Pickens offered the following comment today on the progress made on energy policy and investment through President Obama’s signing of the economic stimulus legislation:

“The stimulus has made some important progress through investments in renewable energy, the funding to rebuild our nation’s transmission grid and on conservation.  These are certainly an important part of the Pickens Plan.  It will create jobs and will move the country in the right direction on our energy policy.  But as I have said previously, this is only a start.”

“We must continue to focus on reducing our dependence on foreign oil and the only way to do that is using our abundant supply of domestic fuels in transportation.  We must tap into the potential of natural gas and until we do that, then we are not close to solving our problem.  I will continue my efforts and am focusing the more than 1.4 million members of the Pickens Army to deliver the message on foreign oil to the leadership in Washington, particularly as it moves forward with energy legislation in the coming months.”