We heard plenty about the results of some of the various races and ballot measures around the country over the past couple of days. However, there was one ballot proposal in California that didn't get much attention outside of the state but might be of interest around these parts. Proposition 10 would have provided for the sale of $5 billion in bonds that would be used to invest in renewable energy projects in the state along with consumer incentives for alternative energy vehicles. With the interest that would have to be paid on those bonds the total cost to California taxpayers would have been nearly $10 billion.

It would have cost that much if the proposal passed. However, more than 60 percent of California voters cast their ballots to reject prop 10. It turns out the proposition was proposed and largely funded by one T. Boone Pickens who not surprisingly stood reap huge rewards if it passed. Pickens and his allies spent over $23 million on their campaign while opponents spent only $170,000. Opponents revealed that much of the money from the proposal would be used to pay for natural gas conversions for vehicles, part of the "Pickens Plan" that the billionaire has been promoting for months.

[Sources: The Auto Channel, California Progress Report]

The second U.S. presidential candidate debate is tonight, and it's likely that energy policy will come up in some fashion. Central casting's best-named oil man, T. Boone Pickens, wants to make sure the debate starts a bigger discussion on energy use in America and so he is hosting an "online rally" tonight during and following the debate. Barack Obama and John McCain are scheduled to being a 9 p.m. EST, and that's when the rally starts as well.

Sierra Club Executive Director Carl Pope will join Pickens for a rally that "will feature live video from Pickens Plan HQ in Dallas and you will have an opportunity to submit questions and comments about America's energy future." Pickens unveiled his self-titled Pickens Plan - big on wind energy and natural gas - in July and he laid out his political attitude for 2008 when we heard him speak back in May. Let's just say that Mr. Swift Boat wants John McCain to win, but is much less partisan this time around than he was in 2004. Since both McCain and Obama have met privately with Pickens this year, we can take serious his group's statement that, "We will be delivering a copy of your questions and comments to both Presidential candidates, so don't miss this opportunity to lend your voice to the call for American energy independence!" I'll take a pass on the "rally" tonight, but if you join up, I'd like to hear your report in the comments section.

[Source: Pickens Plan]

If you listened to or read our post on T. Boone Pickens speaking at the AFVI Expo in May, then you know that he's a big proponent of wind power and natural gas (some say he needs to learn more about hydrogen cars). Mr. Swift Boat is all over the media today because of an announcement regarding something called "The Plan," Pickens' big new idea to shift some of the $700b the U.S. spends each year on foreign oil into increasing domestic energy production. Unsurprisingly, Pickens says that wind and natural gas are the ways to go. Maybe this is what he meant when he said he wanted to be a player in the fall election.

Pickens spoke to NPR this morning about The Plan, which includes installing 2,500 wind turbines in Texas to deal with Peak oil (The Plan website says that happened in 2005). As for natural gas, Pickens says it should win as a power source for vehicles because it is cheaper than gas, abundant and domestic.

If you need a jolt of irony with your lunch today, check this out. Pickens told NPR that, "The mistake was made because we didn't have the leadership that stepped up and said, 'We cannot continue to import foreign oil.'" One reason no one stepped might be that people like Pickens invested a lot in oil companies looking for oil in foreign lands. Sheesh. h/t to Dave B.

[Source: Pickens Plan, NPR]