Pickens Turning Attention to Natural Gas

T. Boone's Pickens, whose ambitious Texas wind farm plan ran into distribution problems, is turning to natural gas in his attempt to lessen U.S. dependence on foreign oil. Two years ago Pickens, a Texan who became a billionaire in the oil business and now runs the BP Capital Management hedge fund, announced that he planned to erect the largest wind farm in the world in the Texas Panhandle. He foresaw a farm of more than 400,000 acres on land.....Complete Story

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Oil Settles Above $71, China to Boost Reserves

Oil prices settled above $71 a barrel Monday, as China said it would boost oil reserves and Nigerian militants partly shut down an offshore oil platform belonging to Royal Dutch Shell PLC. Benchmark crude for August delivery gained $2.33 to settle at $71.49 a barrel on the New York Mercantile Exchange. Alaron Trading Corp. analyst Phil Flynn said China's plans to increase its strategic crude oil reserves by 60 percent should provide the market with some long term support.....Complete Story