Known for his saying that "the first billion is the hardest," oil
billionaire T. Boone Pickens addressed the Stansberry Society Conference
in Dallas at the end of May with a plea for a national energy plan that
takes advantage of the billions of barrels of oil
being produced each day in the U.S. for domestic use. First addressing
the audience, and then in conversation with event host Porter
Stansberry, followed by an all-star energy investing panel, the Pickens
Plan advocate was optimistic about the prospects for growing the country
and individual investment portfolios through smart use of natural
resources.
On making (and losing money): I moved to Dallas from
West Texas in 1989 worth about $25 million ($25M). I ran that $25M up
to $4 billion ($4B) in 2007. 2008 and 2009 were a disaster. I lost $2B.
I've given away over $1B and have $1B left. (more)
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