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T. Boone Pickens

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Natural Gas: Following T. Boone Pickens into the Energy Patch

By , Money Morning -

An iconic Southwestern energy patch player, T. Boone Pickens has built a legacy over the decades that proves the old Texas saying: "It's not the size of the dog in the fight, but the size of the fight in the dog."

In the wild days of the 1980s, made famous by a generation of traders who emulated the likes of Gordon Gekko, few could ever match the Pickens eye for the big deal.

Never eat anything bigger than your head?.... Pickens never heard that one.

As the head of Mesa Energy, his first deal was to purchase the Hugoton Production Company - made notable by the fact the company was 30 times the size of his own.

His thirst for Goliaths continued for decades to come. He once even went after Gulf Oil, which is now Exxon Mobil.

The point is Pickens has never shied away from risk when he saw reward. And for all his bold achievements there is always less "crazy" there than there seems to be.

And if you're looking for a guy who knows:

  • How Wall Street traders and Texas wildcatters think.
  • Who can read a geological map.
  • Who can manage a hedge fund.
  • And who can make money in a volatile industry... Pickens is your guy.
He's the Warren Buffett of the energy patch.

That's why there is more there than meets the eye in his unique venture into the natural gas market with Clean Energy Fuels Corp. (Nasdaq: CLNE). Pickens is its founder and largest individual shareholder.

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T. Boone Pickens Loses "Big" in Alternative Energy

By , Money Morning -

No, he didn't lose a donkey.

But T. Boone Pickens lost a synonym for the animal and a whole lot of money in the wind industry.

"I'm in the wind business..." said Pickens yesterday on MSNBC's Morning Joe. "I've lost my ass in the business."

Pickens didn't blame his own investment for the current situation. He acknowledged that the technological shift in shale oil and gas development has greatly changed the game for American energy, and has made drilling more practical and affordable.

But the statement was just a precursor to his observations that Washington has little priority to setting a national energy policy that is both sustainable and affordable to Americans.

On the show, Pickens hammered home the point that the current administration not only lacks an intelligent energy policy. "They don't have an energy policy."

Why this statement is shocking to anyone, especially the hosts, shouldn't confuse anyone.

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