July 24, 2014
TOLEDO, Ohio (AP) - Texas energy tycoon T. Boone Pickens has brought his campaign for energy independence to Ohio.
The head of Dallas-based hedge fund BP Capital Management LP was in Toledo on Monday to talk about his proposals for reducing America's dependence on foreign oil. His so-called "Pickens Plan" would rely on energy efficiency and investments in renewable sources, such as wind power.
Pickens met with executives at Owens Corning, a Toledo company that makes building insulation and windmill blades. He was embraced by a person costumed as Owens Corning's Pink Panther mascot.
The billionaire who made his name in the oil business warned that the U.S. could find itself spending $300 per barrel on imported oil within 10 years.
(Copyright 2008 by The Associated Press. All Rights Reserved.)