T. Boone Pickens: In it for the Green Cash or the Greener Planet?

It is hard to decide if Boone Pickens is simply an aging oil tycoon who has found yet another way to milk the earth for his money, or if he is a visionary leader who will show America the way energy independence.

Pickens Knows Fuel

By all accounts, Mr. Pickens knows what he is talking about when it comes to fuel. He started his career at Phillips Petroleum and set out to make his own fortune in 1954. Through several oil exploration endeavors, he eventually built the empire known as Mesa Petroleum, which went public in 1964. Mesa is now one of America's largest natural gas and oil companies. In 1997 Mr. Pickens formed Pickens Fuel Corporation, later named Clean Energy Fuel Corporation when it became public in 2007. Clean Energy sells natural gas.

Gore Has Heated Up the Debate

It is interesting that Mr. Pickens was unable to convince lawmakers of his clean energy vision until Mr. Gore's recent film about global warming. It seems that Mr. Gore has caused a global heat up in the debate about climate change. Since then, lawmakers, philanthropists and corporate sponsors are falling over one another to help Mr. Pickens realize his dream.

The Pickens Plan

The Pickens Plan is mainly about wind energy, an environmentally friendly and renewable resource. Pickens sees natural gas as the lesser of the evils when it comes to our current energy needs. The plan calls for replacing our current natural gas use with renewable energy like wind and solar, and then replacing 1/3 of petroleum use with natural gas in motor vehicles.

Self Interest or American Interests?

Some say Mr. Pickens is pushing green energy to advance his own means. Others say it does not matter why he is looking to reduce our oil independence, it only matters that we seize the opportunity. Perhaps Mr. Pickens has seen the inevitability of a green America and has turned his business plan in that direction as a result. There is no question that Mr. Pickens will benefit if America increases its investments in renewable energy. According to Forbes Magazine, "He has direct investments in a plethora of energy companies, including BP Capital, a hedge fund that invests in renewable energy companies, Exco Resources (nyse: XCO - news - people ), Clean Energy Fuels (nasdaq: CLNE - news - people ), Interoil, Westport Innovations, Mesa Power and Mesa Water. And the scope of Pickens' projects are massive. Mesa Power, for instance, is set to spend $2 billion on 667 General Electric (nyse: GE - news - people ) wind turbines as part of the first phase of a four-stage effort to build the world's largest wind farm in Texas."

No matter why he is doing it, there are plenty of supporters ready to help Mr. Pickens. He has organizations like the American Lung Association behind him. AEP (American Electrical Power) has signed on as a corporate sponsor for the plan. Scores of governors and representatives are now backing his plan. We will know in time if Mr. Pickens exactly what kind of green is really motivating Mr. Pickens.

Forbes Magazine: Green in Greentech for Pickens