Russia likely to join OPEC soon, Pickens says

WASHINGTON — Russia will likely become a member of OPEC soon, billionaire investor and alternative-energy advocate T. Boone Pickens said Monday.

That membership “will not be favourable to the United States,” Mr. Pickens told a gathering of mayors.


Mr. Pickens is promoting increased investment in wind power and natural gas to reduce U.S. dependence on foreign oil imports.

At a press conference after his speech, Mr. Pickens said he has met twice with President-elect Barack Obama’s transition team to promote his plan, which has won the support of 187 U.S. mayors.

Mr. Pickens began promoting his plan this summer, when crude prices peaked over US$147 per barrel and interest in alternative energy surged.

Financial Post