‘Daring’ oilman urged U.S. to invest in renewables
OKLAHOMA CITY— T. Boone Pickens, a brash and quotable oil tycoon who grew even wealthier through corporate takeover attempts, died Wednesday. He was 91.
Pickens died of natural causes under hospice care at his Dallas home, spokesperson Jay Rosser said. Pickens suffered a series of strokes in 2017 and was hospitalized that July after what he called a “Texas-sized fall.”
An only child who grew up in a small railroad town in Oklahoma, Pickens built a reputation as a maverick, unafraid to compete against oil-industry giants.
In the 1980s, Pickens switched from drilling for oil to plumbing for riches on Wall Street. He led bids to take over big oil companies. Even when Pickens and other so-called corporate raiders failed to gain control of their targets, they often scored huge payoffs by selling their shares back to the companies.
Former U.S. president George W. Bush said in a statement that Pickens became a household name because he was “bold, imaginative and daring.”
“He was successful, and more importantly, he generously shared his success with institutions and communities across Texas and Oklahoma,” Bush said. “He loved the outdoors, his country and his friends and family, and Laura and I send our condolences.”
Later in his career, Pickens championed renewable energy including wind power. He argued that the United States needed to reduce its dependence on foreign oil. He sought out politicians to support his “Pickens Plan,” which called for armada of wind turbines in the middle of the U.S. that could create enough power to free up natural gas for use in vehicles.
“I’ve been an oilman all my life, but this is one emergency we can’t drill our way out of,” he said in 2009.