How to Take Over a Company: T. Boone Pickens, Jr. on Corporate Decisions & Finance (1987)

On the local level, Pickens chaired the Board of Regents of West Texas State University (now West Texas A&M University) in Canyon and in 1987–1988 contributed to the restoration of the administration building known as "Old Main". He was also active in the Republican Party in Potter County. Pickens organized a campaign in the mid-1980s against the Amarillo Globe-News newspaper, for what he claimed was inaccurate reporting about his deals and Mesa. Although the newspaper owner, Morris Communications, replaced its publisher twice during the conflict, Pickens' attempts to have the paper change its editorial policy failed. Shortly thereafter, in 1989, Pickens and Mesa moved to a suburb of Dallas.[10] Pickens sold Mesa to Richard Rainwater in 1996.[11] Mesa merged with Parker & Parsley Petroleum in 1997 to form Pioneer Natural Resources.[12]

In 1997, Pickens founded BP Capital Management (then called BP Energy Fund) — the initials standing for "Boone Pickens" and not related to British Petroleum. He holds a 46% interest in the company which runs two hedge funds, Capital Commodity and Capital Equity, both of which invest primarily in traditional energy companies such as oil, natural gas, and nuclear power corporations like Halliburton, Schlumberger, and Shaw Group.

In 2006, Pickens earned $990 million from his equity in the two funds and $120 million from his share of the 20% fees applied to fund profits.[13] In 2007, Pickens earned $2.7 billion, as BP Capital Equity Fund grew by 24% after fees, and the then $590 million Capital Commodity fund grew 40%, thanks to, among others, large positions in the stocks of Suncor Energy, ExxonMobil and Occidental Petroleum.[14]

Pickens' most recent recognition comes from The Franklin Institute in Philadelphia. T. Boone Pickens received the 2009 Bower Award for Business Leadership for 50 years of visionary leadership in oil and other types of energy production, including domestic renewable energy, and for his philanthropic leadership contributing to education, medical research, and wildlife conservation.

In his 2008 book, The First Billion is the Hardest, he noted a belief in the "peak oil" theory. He has since altered that position, noting technical achievements of the domestic oil and natural gas industries in utilizing horizontal drilling and fracking to unlock shale oil and gas reserves. He has called for the construction of more nuclear power plants, the use of natural gas to power the country's transportation systems, and the promotion of alternative energy. Pickens's involvement with the natural gas fueling campaign is long-running. He formed Pickens Fuel Corp. in 1997 and began promoting natural gas as the best vehicular fuel alternative because it is a domestic resource that, among many advantages, is cleaner-burning (Natural Gas Vehicles or NGVs emit up to 30% less pollution than gasoline or diesel vehicles) and reduces foreign oil consumption. Reincorporated as Clean Energy Fuels Corp. in 2001, the company now owns and operates natural gas fueling stations from British Columbia to the Mexican border.

http://en.wikipedia.org/wiki/T._Boone_Pickens

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