The two men also support the Natural Gas Act, legislation that would boost use of the fuel by vehicles. McClendon said in a video posted on YouTube that he was a supporter of the Pickens Plan, which would reduce U.S. use of oil from the Organization of Petroleum Exporting Countries and increase renewable power.
McClendon said on a conference call last year that "one of the few disagreements" in his life with Pickens came from the elder oilman's support for wind power. McClendon said the renewable resource wouldn't be able to compete with gas-fired power plants.
Mike Cantrell, a former president of the Oklahoma Independent Petroleum Association, said he got a firsthand glimpse of the personal bond between the men during a gathering a few years ago at Pickens's Texas ranch when he brought up wind-development plans.
"You could tell they were real close," said Cantrell, the vice president of government and regulatory affairs at Continental Resources Inc. "But Aubrey was the first one to take on his premise a little bit."
Pickens said yesterday Chesapeake will survive the current crisis. The company will be able to raise the cash to fill a funding shortfall this year, getting $6 billion from selling oil and gas assets in the Permian Basin, Pickens predicted.
Asked if he was putting his money where his mouth is and buying the shares, Pickens responded, "No."