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T. Boone Pickens Predicts $200 A Barrel Oil

(DENVER) In town for the Democratic convention to promote his "Pickens Plan" for alternative energy, billionaire oilman T. Boone Pickens predicted $200 a barrel oil within three years.

"In two or three years, we're going to be at $200 a barrel—could be $300 a barrel for oil," Pickens said inside the "Big Tent," a complex outside the Pepsi Center set up for bloggers. "And consequently, our economy is going to struggle and our security is just—it's a disaster."

Pickens was joined on stage by Sierra Club president Carl Pope and Center for American Progress president John Podesta, both of whom endorsed The Pickens Plan, although each called for additional proposals.

Pickens said the United States is blessed with "two corridors" that are conducive to alternative energy sources: the "wind corridor" from Texas to Canada and the "solar corridor" from Texas to California. Although Pickens said he agreed with Al Gore that global warming is a major problem, his first priority is to help reverse the tide of sending billions of dollars overseas for America's energy needs.

"I can promise you, if we go ten years without doing anything more than what we've done about our energy plan in America, if we just duplicate the last ten years, it'll be closer to ten trillion dollars," Pickens said. "Well, a sad part about that is if we pay ten trillion dollars for energy from foreign sources in the next ten years, I can tell you we don't have to worry about health care or education. We're not going to have the money to do anything about it."

Pickens said that hundreds of thousands of new jobs could be created in the alternative energy corridors.

"We're not talking about me and my generation," Pickens said. "I can make it to the finish line, and some of you out there I see could too, but there's a lot of you can, but our kids and grandkids can't, and that's what it's about. We have got to change what we're doing on energy. We've gone 40 years with no plan. My dad said, 'A fool with a plan, son, will beat a genius with no plan.' We are like a fool with no plan. We have done nothing."

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