Obama Plucks From Pickens Plan

President Obama said yesterday he plans to offer tax incentives to companies that transition their trucking fleets to run on natural gas.

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The announcement, which took place at a UPS facility in Las Vegas, takes a page from the controversial Pickens Plan proposed by energy tycoon T. Boone Pickens.

Some manufacturing groups, including the American Chemistry Council, have said they're opposed to the Pickens Plan because it would pick "winners and losers" and create artificial demand through incentives, potentially raising natural gas prices for industrial consumers.