Oil tycoon pitches wind-based energy plan

Texas oilman Boone Pickens says the oil crisis is real and it is not going to get any better.

Americans are consuming 25 percent of the world's daily oil production while producing very little of it.

Pickens is calling for a new energy plan that relies on the natural resources America does have, wind and natural gas.

"We are in an emergency," Pickens said. "There's no question about it. And so something has to be done about it."

Pickens says the U.S. should first build massive wind farms, like the one he is building in Texas, to power homes with electricity. Then natural gas could be redirected to fuel planes, trains, trucks and cars to reduce U.S. dependence on foreign oil.

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