Now that billionaire oil man T. Boone Pickens is making his next fortune in wind power, he’s ready to tell anyone who’s listening how high oil will go…if they don’t invest in, say, wind power. Giving testimony at a senate hearing today, Pickens floated a number designed to terrorize the elected officials in attendance:
If we continue to drift, oil will hit $300 a barrel in 10 years.
The US imports roughly 70% of its oil now, and Pickens says we will be importing over 80% a decade from now if nothing is done.
Of course, Pickens is helping by building a 4,000 megawatt, $10 billion wind farm in Northern Texas that should start generating power in 2011. Also his plan for our energy revolution, The Pickens Plan, has been on full display on televisions across the nation:
Pickens may be on the right side of this conversation. But just 2 weeks ago he saw oil going back to $100.