T. Boone Pickens invests in natural gas-fueled taxis

Betting on his new energy plan, oil mogul T. Boone Pickens has helped invest $160 million in a company that makes taxi cab fleets that run on natural gas, a cleaner burning fuel.

T. Boone Pickens

(Credit: Boonepickens.com)

Pickens, along with lead investor Perseus, a private equity bank, invested this week in Troy, Michigan-based Vehicle Production Group (VPG). VPG makes natural gas-fueled taxi cabs and consumer cars that are wheelchair accessible. Clean Energy Fuels Corp., which was founded by Pickens, is also an investor in VPG. The company said it plans to use the funds to further production of vehicles for release by early 2010.

Of course, natural gas cars are part of Pickens' energy plan, which he announced with much fanfare in early July. The so-called Pickens Plan calls for greater use of natural gas cars in the United States to reduce the country's dependence on foreign oil. Still, Pickens himself has been criticized for drawing up an energy plan based on his own investments.

[humanssssss]

Natural gas? It emits carbon. Electric car is the way to go. Zero carbon emission. Good for the environment.

[zagadget]

The greens fail to realize that tires, doors etc are made of carbon. The batteries that electrics run on can have dangerous chemicals in them. The power plants the "green electric cars " require are powered by Coal, Oil (carbon) - or Nuclear and in limited areas Hydro. Solar panels require energy to be fabricated and also can contain organics that are dangerous

[eddiemyboy1]

We do realize that just about everything is carbon based on this planet,even us.The point is to reduce our carbon footprint as fast as possible.The point is to do something better than we have been doing.The point is to change and to improve on renewables and above all else to learn to conserve.

[infragod]

Oh come on....???? Like Al Gore's investement in the Carbon Credit pyramid scheme and the coordinated effort to enrich him by putting in carbon limits by congress isn't a conflict of interest.

At least Pickens is actually putting his money where his mouth is and creating energy which is real and will reduce Carbon at the same time. All Al Gore's strategy does is fleese business and individuals in a scheme which is akin to tossing a virgin into a volcano to appease the rain gods...

Wake up people. Pickens plan works great...and if you don't want to use natural gas...build more wind, nuclear, or Fischer-Troupe coal plants, whatever.

[eddiemyboy1]

Pickens is an oilman,always has been,always will be.He wants to make money on renewables and get as big a piece of the pie as he can.He is not the noble altruistic person he is showing.SHOW ME THE MONEY!I do appreciate the PR and the push for renewables though.Get renewables in the forefront of our minds and get us going in the right direction.

[Manhattan2]

If Mr. Pickens is reading this it is time to invest in a solar transfer solution or join the Manhattan 2 Project. Not selling anything yet. Just phase 1 of a 5 phase renewable energy program. Getting the information out about the mistakes of Ethanol, and errors in the design of residential fixed angle solar is phase 1.

[tech_crazy]

There goes the same Manhattan2 with the BS and hype of Solar Transfer. If you really want to go anywhere put out the details for all to see instead of just trolling the blogs.

[Ormond Otvos]

I have no objection to Pickens investing in non-carbon electricity. The EROI of wind is 24. The EROI of nuclear is 5. Natural gas is 5 and falling due to exhaustion. Coal is BOTH polluting and CO2 intensive. Pickens isn't talking about decreasing coal-fired electricity, as he should be. He's keeping his mouth shut, I suspect to avoid backlash from the enormously powerful Coal Lobby. More Wind is a Good Idea. Dump Coal until it is both clean and sequesters its carbon.

[PhyllisVance]

Electric cars may be carbon-free alternatives, but what about the need for speed? Pickens ideas have merit...but time will tell.

[jemiller0]

If you are questioning how fast electric cars are, then, I think you need to do some research. Check this link out http://www.youtube.com/watch?v=BqqtJpfZElQ&NR=1. An electric car blows away a Ferrari and a Porshe.

[vminvic]

Make that carbon-neutral bio waste gas and we have a deal. At what real cost, can this be done ? Permanently $6 per gal. gas equivalent ? Not cheap but same as now ! Gets rid of trash,compost, crop waste, and sewage - including animal **** ! Let's not forget the Animal Factories. Environment, and economy not now half fixed? Is this already economically viable when true cost accounting of all industrial/agricultural production is done? Bet it is. Just got to keep fuel prices where they are and we will fix this mess. Someone just decided to overhaul the distribution system anyways - T. Boone Pickens. Petro methane will get the ball rolling, and cut pollution in mean time. All autos on petro-methane still saves economic disaster anyways. Domestic supply exists!

[benjaminstraight]

Good effort.

[dw1949]

reply to humanssss- You are right in that electricity is zero carbon emission, BUT the generation of electricity is far from carbon free- coal, oil and gas generation puts out tons of carbon.

[eddiemyboy1]

I am for electric cars myself,but let us not forget that most of our electricity comes from coal fired plants and they are very dirty.Then you have nuclear power and I am just flat out against this monster that has the potential to destroy life on this planet or alter it until we won't want to live here anymore.

[elisnook]

Need for speed? Really? Electric cars can be very, very fast. In fact even faster than your currect car. Many people have this misconception about electric cars.

[anthonysmission]

Is anyone surprised to read this?

Anthony Kraudelt
3102 Lilac Haze Street
Las Vegas, NV 89147

[jabailo]

Hydrogen is the only fuel worth using.

Roll on, Hydrogen, roll on...!