Billionaire Pickens runs into roadblock

You know it's bad when even a billionaire can't get a break.

Or buy one, for that matter.

T. Boone Pickens, the Texas oil man who has held meetings in 74 cities and 22 town halls in Ann Arbor, Atlanta and parts all around the nation promoting wind and natural gas as alternative energy solutions -- and for the latter, a way to power cars and trucks -- said this week his year-long quest hasn't produced the results he expected and is now scaling back some of his own ambitious plans.

That's in part because of the truckloads of cash he's lost in the market but also because he's not getting as much traction as he'd hoped both in Congress and in the broader court of public opinion. And that's saying something given that he's put $60 million of his own money into the public relations campaign to convince us that oil isn't the answer.

Oh, by the way...

Pickens says he's still hoping to see his quest for alternative fuel vehicles and other green initiatives succeed.

But his mission, like that of other million- and billionaires who make their fortunes then turn to social causes, is a bit suspect, too. Pickens, according to the Associated Press, last year pumped $19 million into a California bond initiative that would have provided rebates to people who bought alternative fuel vehicles, but it failed. Oh yeah, Pickens, by the way, is the majority shareholder in a company that supplies natural gas for transportation.

Such altruism.

Now's not the time

Though Pickens has become filthy rich peddling a product he now says is the enemy, it is not the time to be pushing natural gas to power cars and trucks. Two of Detroit's automakers are reorganizing in bankruptcy and the third is still bleeding a billion bucks a month (or thereabouts) in cash.

They've proven alternative fuels can work, but they can't afford to change directions on technology now, especially with electricity being the craze of the day.

Of course, with Congress, one never knows. Pickens could get some traction, as the House and Senate have proven they'll support almost any legislation if it scores them brownie points with someone, anyone. But just because Congress proposes something doesn't make it a good idea.Certainly, there needs to be continued development of new technologies and alternative fuels for vehicles. But the Pickens Plan, as has been proven with the less than stellar response he's gotten the past year, isn't the answer.

I hope he continues with his self-funded quest to lessen the nation's reliance on foreign oil. There's nothing wrong with billionaires tilting at windmills if they're using their own money. But once Congress gets involved, it becomes a problem for everyone and we can't afford any more meddling.

mlopez@detnews.com">mlopez@detnews.com (313) 222-2536 Auto Editor Manny Lopez's column runs Thursday.