Americans are currently enjoying lower gasoline prices as oil hovers below $40 a barrel. But Texas oilman T. Boone Pickens says it would be foolish to think that oil prices will remain low. The outspoken billionaire was on Capitol Hill Tuesday to renew his push for the development of alternative energy sources. In a CNBC interview, he said oil could rise to $75 a barrel if the crisis in the Middle East continues.
Now that George Bush and Dick Cheney are out of the picture perhaps the move to alternative energy sources can move forward more expeditiously in the President Obama administration.
Nye County, Nevada is a prime spot to become a producer of alternative energy.
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