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T. Boone Pickens on CNBC’s Closing Bell: Gas Refineries Will Want Subsidies After Delta Deal

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“Texas oil and gas investor T. Boone Pickens has a warning for Pennsylvania now that it is subsidizing Delta Air Lines’s purchase of a gas refinery: Keep your wallet handy.

Delta Air Lines is getting a $30 million subsidy from the Keystone State as part of a $180 million deal to buy a Phillips 66 refinery south of Philadelphia.

‘The state better get ready because other refineries are going to want subsidies for them, too,’ he told CNBC’s Closing Bell. ‘How they gonna handle that one?’”

Read the full story here.

This entry was posted on Tuesday, May 1st, 2012 at 10:34 am by TeamPickens in Pickens Plan.
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Comments2 Responses to “T. Boone Pickens on CNBC’s Closing Bell: Gas Refineries Will Want Subsidies After Delta Deal”

May 2nd, 2012 at 2:24 pm

Dick Roberson


With our huge NG reserves, why not employ NG conversion plants like Shell Oil's Pearl plant in Qatar? Shell is making $70 a barrel profit or $9,800,000 a day! They are converting 140,000 BOE a day from NG. The plant pays out in 3.8 years. 35 Pearl type plants in the U.S. would equal what we are buying from OPEC:5 million barrels a day. The techology was developed by the Germans 60-70 years ago during WW2. What are we waiting for? Also, 500,000 jobs would be created.

May 2nd, 2012 at 2:36 pm

Dick Roberson


The above plan of converting NG to BOE comes from my good friend: Ed Glenn. Petroleum Engineer, (Yale U.) in his study of Shell's sucessful plant in Qatar. Ed's phone # is (512) 478-4125 in Austin, Texas. He has designed a great plan for us to get rid of OPEC!

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