Texas oil man T. Boone Pickens responded to Al Gore's Generational Challenge to Repower America speech, saying he and the former vice president "have two different objectives and our plans should be viewed with that in mind." Last week, the billionaire discussed the Pickens plan he hopes will reduce foreign oil imports by more than 30% in the next 5 to 10 years.
In a release issued through BP Capital, Pickens said Gore "put forward a framework of a plan that is focused on global warming and climate issues. My plan is aimed squarely at breaking the stranglehold that foreign oil has on our country and the $700 billion annual impact it has on our economy. ... Vice President Gore's plan does not address this enormous problem.
In a speech on Thursday at a Washington energy conference, Gore called for the U.S. to produce all of its electricity from renewable energy and carbon-free sources within 10 years. Last week, Pickens unveiled a plan that involves using wind to supplant natural gas, which could then be used towards transportation.
"It's time for us to take responsibility for the problem we've created and act now," Pickens said. "The Federal Government should provide the leadership to clear the way for action and private enterprise should build the infrastructure to get it done. Only in that way can we recapture our energy destiny.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.