Tycoon announces $58bn green investment

Investment into the green energy sector could benefit from a large boost stateside following an oil tycoon's PR injection.

Investment into the green energy sector could benefit from a large boost stateside following an oil tycoon's PR injection.

T Boone Pickens, a Texan oil billionaire has announced an investment of $58 billion aimed at spreading the good word about green energy in an attempt to re-educate Americans' views on the necessity to go environmentally friendly.

The investment could have serious benefits to European companies already making waves in such sectors, such as those working on wind farms in Scotland and Northern Ireland.

Explaining his move in a Wall Street Journal article, Mr Pickens said: "I've drilled more dry holes and also found more oil than just about anyone in the industry… With all my experience, I've never been as worried about our energy security as I am now."

Many social groups wish for the US to improve its environmental record but the $58 billion investment could be one of the biggest driving forces in getting executives into business across the pond.

As minds change it is hoped that tenders will be put out internationally, to attract some of the best brains in renewable energy into the US industry, as many British minds are among the most knowledgeable.