The First Billion Is the Hardest: Reflections on a Life of Comebacks and America's Energy Future

Author - T. Boone Pickens ... [Goo?] [Posters]

This Hardcover Book item from Crown Business was reviewed on 13-Oct-2008.

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1) Hardcover Book The First Billion Is the Hardest: Reflections on a Life of Comebacks and America's Energy Future by Crown Business. T. Boone Pickens began at age 11 delivering papers, mowing lawns and pumping gas in Oklahoma to becoming chairman of the BP Capital Management hedge fund. He invested a mere $2,500 into Mesa Petroleum and built it into one of the largest independent oil companies in America and then overcame a time of personal difficulties by taking an investment fund of $3 million and turning it into $8 billion in just a few years. That´s why

I picked up a copy of Boone´s book The First Billion is the Hardest and read it from cover to cover with close attention and fascination.
In his book, Pickens presents his plan for America to become energy independent as well as detailing his life of improbable triumphs. The book provides an inside view of his oil and gas career, of mergers and acquisitions, of his dealings with CEOs and investment bankers, and on his personal management style.

On energy, Pickens makes the argument that the U.S. cannot drill its way out of our current crisis but must think our way out. In discussing energy solutions, Pickens stresses that crude oil is not used only for gasoline, heating oil and jet fuel but for other important petroleum products such as plastic, synthetic fibers, fertilizers, ink and many more products. For that reason, even if no foreign oil went to energy uses we´d still be beholden to the Middle East. Pickens wants to replace at least a third of gasoline demand with natural gas to reduce our foreign oil bills by 16 percent annually.

The book contains 11 chapters on the author´s personal insights and experiences, including his insights on energy, and one chapter on his energy plan. While some readers may scoff at the author´s folksy personality and "Bonneisms" the fact is that T. Boone Pickens has 60 years experience in the energy field - experience that gives him credibility and suggests we should listen closely when he speaks.

The book also provides an interesting peak into how Pickens spends his money - a philanthropic approach to use his money to perpetuate helping others. In fact, the author shares his intent to give away all of his money and how he will do it. But before he could give away as much he has, Pickens first had to earn his fortune and The First Billion is the Hardest is a fascinating and compelling story of how that was done.

By Darin Manis
CEO and Founder
RJ & Makay
[...]
¤

2) Hardcover Book The First Billion Is the Hardest: Reflections on a Life of Comebacks and America's Energy Future by Crown Business. I´ve been a huge fan of Boone Pickens since the early 80s when he unlocked shareholder value at Gulf Oil and other sleepily managed oil companies. I even bought shares in Mesa Petroleum and I´ve mentored someone who works closely with him.

But, Lordy! He loves himself just a little too much.

This slim book is written in first person as though into a tape recorder with scant evidence of any editing. It´s a quick read and after a couple of chapters you are already past his Mesa days. It dwells instead on his BP (as in Boone not British Petroleum) days. It also is full of wind and gas on his Pickens energy plan.

Frankly, I don´t need to read a commercial on his energy plan, but I´ll grant him a pass on that. It´s the overall tone of the book that gets to me. There´s way too much tooting of his own horn. I have to wonder if he was a middle child or something like that happened to starve him of attention.

It certainly is a quick read and you could polish it off on a longish plane flight. Still, it pales by comparison with the much longer but brilliantly written and insightful "The Snowball" on Warren Buffett.¤

3) Hardcover Book The First Billion Is the Hardest: Reflections on a Life of Comebacks and America's Energy Future by Crown Business. This book was both an easy and fast read. Plain speaking conversational writing style. Provides a nice introductory overview of who T. Boone Pickens is, where he came from, what shaped him, his business experiences, and ends with the promotion, explanation, and justification of his Energy Plan. Being an autobiography, in addition to the expected successes, I was surprise to see that he freely admitted some of his bigger mistakes. You may, or may not like the man, but book is definitely worth the read if you are interested in finding out about the man, and his energy plan. After reading his book, I am even more committed in supporting his energy plan.¤

4) Hardcover Book The First Billion Is the Hardest: Reflections on a Life of Comebacks and America's Energy Future by Crown Business. As someone who generally follows the motto, "the government that governs best, governs least"...I recant! Boone Pickens describes in this book why it is critical for the government to help establish new energy transmission corridors in the US to allow new wind and solar energy generating sources to flourish. We also need to convert our engines to burn natural gas--a domestic resource we can use to help replace our need for crude oil. I agree with him!

The chief lesson here is that the world of cheap oil is over. Don´t believe Pickens? Then read Matthew Simmons book "Twighlight in the Desert" about the maturing Saudi Oil fields. Forget the recent drop in oil prices...high oil is here to stay over the long term...and as the Chinese and Indian economies flourish in the next decade or so, look out!!!

The US must prepare now to get off its addiction to oil, and Picken´s got a great plan. No doubt, he stands to make a lot of money if his plan is enacted, but no doubt, I´d rather the money go to him than to a lot of the folks currently making money off my gas guzzling Camry. Join the "Picken´s Plan"--see his web site--this is a true once in a lifetime grass roots movement that may make a big difference to the future of the US. Go Pickens!¤

5) Hardcover Book The First Billion Is the Hardest: Reflections on a Life of Comebacks and America's Energy Future by Crown Business. Nice book to read. The author is a man of experience which make most of his advices very useful. Albeit nothing really impressive about how he made his fortune, he is still a philanthropist who made a comeback at a late age which cannot be ignored. The book is clearly written and easy to read. However, the reader should have a special interest in energy and speculation in order to enjoy it.¤

6) Hardcover Book The First Billion Is the Hardest: Reflections on a Life of Comebacks and America's Energy Future by Crown Business. With a Plan for Reducing U.S. Oil Dependency

It’s never too late to top your personal best.

Now eighty years old, T. Boone Pickens is a legendary figure in the business world. Known as the “Oracle of Oil” because of his uncanny ability to predict the direction of fuel prices, he built Mesa Petroleum, one of the largest independent oil companies in the United States, from a $2,500 investment. In the 1980s, Pickens became a household name when he executed a series of unsolicited buyout bids for undervalued oil companies, in the process reinventing the notion of shareholders’ rights. Even his failures were successful in that they forced risk-averse managers to reconsider the way they did business.

When Pickens left Mesa at age sixty-eight after a spectacular downward spiral in the company’s profits, many counted him out. Indeed, what followed for him was a painful divorce, clinical depression, a temporary inability to predict the movement of energy prices, and the loss of 90 percent of his investing capital. But Pickens was far from out.

From that personal and professional nadir, Pickens staged one of the most impressive comebacks in the industry, turning his investment fund’s remaining $3 million into $8 billion in profit in just a few years. That made him, at age seventy-seven, the world’s second-highest-paid hedge fund manager. But he wasn’t done yet. Today, Pickens is making some of the world’s most colossal energy bets. If he has his way, most of America’s cars will eventually run on natural gas, and vast swaths of the nation’s prairie land will become places where wind can be harnessed for power generation. Currently no less bold than he was decades ago when he single-handedly transformed America’s oil industry, Pickens is staking billions on the conviction that he knows what’s coming. In this book, he spells out that future in detail, not only presenting a comprehensive plan for American energy independence but also providing a fascinating glimpse into key resources such as water—yet another area where he is putting billions on the line.

From a businessman who is extraordinarily humble yet is considered one of the world’s most visionary, The First Billion Is the Hardest is both a riveting account of a life spent pulling off improbable triumphs and a report back from the front of the global energy and natural-resource wars—of vital interest to anyone who has a stake in America’s future.¤

Page Updated: Robert N. Goolsby, 10-Nov-2008, 03073957749780307395771, 140-740-540-420-960-371-931-8

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