Owens Corning Joins Forces with T. Boone Pickens to Advance Energy Independence

August 11, 2010

Owens Corning, a world leader in building materials systems and glass fiber reinforcements, has partnered with T. Boone Pickens by endorsing the Pickens Plan to advance energy independence and energy efficiency in homes and buildings.

The Pickens Plan calls for reducing the United States' dependence on foreign oil through the investment in domestic renewable resources, such as wind and solar, and the use of natural gas as a transportation fuel. For the first time, the Plan will now also call for increased energy efficiency in homes and buildings.

The goals of the Pickens Plan - including the new focus on energy efficiency in buildings - are consistent with key elements of the energy program being discussed by President-Elect Barack Obama and Congressional leaders. At the foundation of the T. Boone Pickens and Owens Corning collaboration is the understanding that any effective energy policy for the nation must include provisions for achieving greater energy efficiency in buildings.

"Buildings consume 40 percent of our nation's energy. That's more than industry or transportation. Energy efficiency in homes and buildings is critical to the achievement of true energy independence," said Mike Thaman, chairman and chief executive officer of Owens Corning. "As the leading provider of glass fiber for wind blades, we were initially drawn to the Pickens Plan based on his vision for wind power in America. We applaud Mr. Pickens for also recognizing the importance of energy efficiency in solving our nation's energy challenges. We're hopeful our endorsement of this Plan, through our financial resources and employee involvement, will encourage other companies to support the plan as well."

"Owens Corning shares the same concerns that millions of Americans share: reducing our dependence on foreign oil, which has threatened our security, economy and environment. I am delighted to welcome Mike Thaman and Owens Corning to our Plan," stated T. Boone Pickens. "Today's announcement is a big step forward. By increasing the energy efficiency in our nation's homes and buildings, the U.S. can save the equivalent of more than one billion barrels of oil per year, or more than 2.7 million barrels per day. Properly insulating residential and commercial buildings makes tremendous sense and will be a significant part of any energy plan being developed by the new Administration."

Owens Corning signed the Pickens Plan recently at its global headquarters in Toledo, OH, at an event attended by T. Boone Pickens. At the event, Owens Corning and Pickens discussed a shared commitment to securing an effective U.S. energy policy, including joint efforts to raise awareness among legislators and the public at large of the critical importance that energy efficiency in buildings needs to play in that policy.

As a result of adding energy efficiency to the Pickens Plan, current Plan supporters and the general public will be encouraged to make sure their homes and workplaces are adequately insulated and they will also be made aware that significant amounts of energy can be saved by simply ensuring buildings have sufficient insulation.

         
 

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