The committee said the amount grew partly because of new technology, like that developed for the Barnett Shale.
Pickens said once all of the planks of his energy policy become law, it will only take a couple of years for oil imports to decline for good.
That's only if the tax incentives are sweet enough to offset the extra costs and, in some cases, the inconvenience of using the technology.
Congress has passed the wind portion of the Pickens Plan, and wind power capacity has already risen 50 percent during the past year. The stimulus bill includes money to upgrade the power grid, and Congress has passed incentives for wind and solar energy. In Texas, new transmission lines to accommodate more wind power will cost electricity consumers around $5 billion.
Still, Pickens is missing incentives for natural gas vehicles themselves.
In April, two representatives from Pickens' home state of Oklahoma, Dan Boren and John Sullivan, introduced legislation to extend and create tax incentives for natural gas vehicles and fuel. The bill hasn't been voted out of House committee.
The bill would extend natural gas fuel, vehicle and infrastructure tax credits for 18 years. The credits are scheduled to expire this year and next. It would also provide incentives for auto manufacturers to produce natural gas vehicles, and require half of all new, federal government vehicles to be capable of operating on natural gas by 2014.
Pickens Army
While Pickens hasn't accomplished everything he wants in the halls of Congress, he has amassed a following of 1.6 million people, known as the Pickens Army, through his Web site. Members write letters to their legislators, encouraging them to adopt the Pickens Plan.
He is also meeting with executives, including those at Wal-Mart Stores Inc., to stump for his favorite fuel.
Last week, AT&T Inc. said it would spend $350 million converting 8,000 of its vehicles to run on natural gas, the largest such fleet in the country. AT&T chief executive Randall Stephenson chose to include natural gas in his alternative fuel fleet after an hourlong meeting with Pickens.
Pickens is indirectly connected to the company that will carry out the conversions, BAF Technologies. Pickens sits on the board of natural gas fuel supplier Clean Energy, which loaned BAF money, according to Clean Energy spokesman Bruce Russell. The loan is convertible into a 49 percent stake in BAF.
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