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Billionaire Battle

Pickens Blames Lack of U.S. Energy Policy on Koch Brothers

Written by Stephanie Ginter
Posted May 3, 2012 at 6:43PM

The founder and CEO of BP Capital, T. Boone Pickens, has been the voice of natural gas investing in recent years, going as far as urging law makers, including President Obama, to build a cohesive energy plan centered on natural gas as the catalyst of U.S. energy independence.

Thus far, the Obama administration has failed to establish a comprehensive, straightforward energy plan, which Pickens claims is at the fault of brothers David and Charles Koch's chemical, fertilizer, and refining company, Koch Industries.

Pickens bluntly and unapologetically claims that "the biggest deterrent to an energy plan in America is Koch Industries."

"They do not want an energy plan for America because they have the cheapest natural gas price they've ever had […] And they do not want you to have an energy plan, because if you had a plan, then natural gas prices would come up."

Koch Industries is the second largest private company in the country and has spent tens of millions of dollars on lobbying for oil and gas interests.

Meanwhile, Pickens predicts a gradual, but imminent rise in natural gas prices. Referring to current market price conditions, he avows, "It's pitifully low, but we have probably seen the bottom."

Concern swirling around Koch Industries' prevention of a much-need energy plan continues to grow as the billionaire brothers and legendary oil and gas mogul go head to head on current issues facing America's energy dependence.

Until next time,

Stephanie



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