« June 2008 | Main

Jul 8
Is Boone Pickens Plan a step in the right direction for energy independence?

If you have been watching the news at all today you have probably already hard of Boone Pickens and his new plan to help our country become less dependent on foreign oil. The Texas oil tycoon is making all the rounds trying to get the word out about his new website PickensPlan.com. Earlier today Pickens was on Squawk Box touting his plan, and also had a major article in today's USA Today. boone%20pickens.jpg

The basics of the plan are that Boone Pickens believes America should utilize wind power as a major source of our electric power generation. He believes that more than 20% of our country's electric power usage could be wind generated within the next few years. Pickens is putting his money where his mouth is and building the world's largest wind farm in Texas.

So how does the wind power help our situation with gasoline prices? Pickens believes that natural gas is the cleanest form of transportation fuel available today. The problem is, our country doesn't use natural gas for transportation becaue it is being used for electric generation. Pickens believes that since these natural gas resources are cheaper (less than $1 gallon right now in some places) and are available in the United States we should use these for fuel transportation. By using our country's natural gas resources we could dramatically reduce our need for foreign oil, which in turn should drive down the price of oil substantially.

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Jul 7
Violent swings in the market- what do they mean for the short term?
Today was one of those days on wall street where there are violent intraday swings in both directions. The market opened strong, but by 2 pm the Dow was down more than 160 points. Between 2pm eastern and 3:45 the... Continue Reading
Jul 6
What to make of the June employment report
On Thursday the June employment report was released by the Labor Department. The news wasn't good, but it could have been worse. Employers cut 62,000 workers in the month of June and the jobless rate held steady at 5.5%. Also... Continue Reading
Jul 2
Top 5 beaten down blue-chips
As we all know, the stock market has been hit very hard in the last few weeks. There are many blue chip names that have been beaten down to levels they haven't seen in years. While it may not seem... Continue Reading

« June 2008 | Main

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