The story

Earlier this month, legendary entrepreneur and philanthropist T. Boone Pickens unveiled a new energy plan he says will decrease the United States' dependency on foreign oil by more than one-third and help shift American energy production toward renewable natural resources.

"The Pickens Plan" calls for investing in domestic renewable resources such as wind, and switching from oil to natural gas as a transportation fuel.

CNN's Lou Dobbs talked to him Monday about his plan.

DOBBS: Let's be clear, President Bush has put the pressure on Congress to drill or not to drill off shore. There are vast deposits of natural gas lying offshore and throughout this country and it's a potentially important alternative to foreign oil and other energy sources as well. The Energy Department now reports that with the current technology that the United States has access to 1,744 trillion cubic feet of natural gas. That's a lot. And Americans consume roughly 23 trillion cubic feet each and every year. At that rate, we have enough natural gas to satisfy the demand for the next 75 years. Conceivably, more natural gas could become available with technological advances and discovery.

One man who is calling for Congress to stop its partisan fighting and work together on offshore drilling is oil man T. Boone Pickens. He recently unveiled his Pickens plan aimed at reducing our dependency on foreign oil. He is the author of the upcoming book, "The First Billion is the Hardest." The book will be published in September. T. Boone Pickens joins us now from our bureau in Washington, D.C. Boone, good to have you with us. Read full article »

All About Alternative Energy Technology • T. Boone Pickens