T. Boone Pickens is spending $58 million on his national marketing campaign to promote alternative energy sources like wind for electricity and natural gas for cars. In the two weeks since he announced his effort, the stock market value of his company that supplies natural gas for vehicles has increased by about twice that amount.
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Through Monday’s close, the price of Clean Energy Fuels Corp. stock was up by about 25% from July 7, when Pickens unveiled his plan (pickensplan.com) to wean America from foreign oil. Pickens is a director and the largest shareholder of Clean Energy Fuels.
The Dallas billionaire also has large investments in wind power in West Texas.
USA Today said that Pickens’ marketing effort for his alternative energy plan is the largest public policy campaign in U.S. history.
Pickens stars in his own TV spots, which are shown regularly on CNN and MSNBC, where he is as omnipresent as the presidential candidates.
Indeed, Pickens could almost be running himself. In June, John McCain ($27 million) and Barack Obama ($26 million) combined to spend a total of $53 million on their campaigns. Some $21 million of that went for advertising ($16 million for McCain and $5 million for Obama.)
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1 Comments
#1. Matt Williamson 08.07.2008
I think this is brilliant… I am from Oklahoma and I know that winds and solar could flourish here.
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