Owens Corning, American Electric Power, and AutoNation Lead the Way
March 18, 2009 –Dallas– Oil executive T. Boone Pickens has joined forces with some of America’s leading corporations in the fight against energy dependency. Owens Corning, American Electric Power (AEP), and AutoNation have pledged their support and are leading the way in implementing parts of the Pickens Plan.
The Pickens Plan calls for building out our nation’s capacity to produce electricity from wind and solar farms in the Great Plains and the Southwest. The plan also calls for improved energy efficiency in homes and commercial buildings. Forty percent of this country’s energy is consumed by buildings. Collectively, these actions would relieve the need for using natural gas as an electricity production fuel and allow it to be used as a transportation fuel, especially for heavy trucks and fleet vehicles.
“It’s amazing to watch so many companies embrace the Pickens Plan so quickly,” Pickens said. “American Electric Power has proven to be a leader in the development of a transmission system that facilitates the expanded use of renewable electricity generation. Owens Corning is producing the materials that enable green applications like wind energy and PINK fiberglass insulation for homes. Just last week AT&T committed to upgrade 8,000 of its fleet vehicles to run on natural gas over the next five years. If more companies follow suit and use domestic natural gas as a substitute for imported gasoline and diesel fuel, we could reduce our dependence on foreign oil by 50 percent over the next decade.”
“T. Boone Pickens has invested considerable time and resources developing a plan to help maximize the use of domestic energy resources and reduce dependence on foreign oil,” said Michael G. Morris, AEP chairman, president and chief executive officer. “American Electric Power is proud to work beside him as we advocate for and help develop the transmission system needed to efficiently transport electricity to support economic development and energy security.”
“Reducing the amount of foreign oil this country uses will not only help the economy by keeping American dollars here, it is also essential for national security,” AutoNation Chairman and CEO Mike Jackson said. “T. Boone Pickens recognizes that the time to act is now and I am proud to join him in his mission to reduce our dependence on foreign oil.”
The Pickens Pledge reads:
We will no longer stand by and watch as America’s national security and economy become more dependent on the unstable foreign nations that we rely on for nearly 70% of the oil we use each day.
We spend nearly $700 billion every year buying foreign oil, which represents the greatest transfer of wealth in the history of mankind.
The new President and the 111th Congress need to enact an energy plan that reduces our foreign oil dependence by at least 30% within ten years.
This plan must include proven American technology and resources; the development of new energy sources; and the expansion and modernization of the national electrical grid to transport renewable energy to homes and businesses.
Delaying any further means tacit support for continuing America’s addiction to foreign oil.
I join with T. Boone Pickens and his army of supporters in calling for an Energy Independence Plan to be enacted within the first 100 days of the new administration.