Pickens Remarks at Fall 2005 Commencement

The following are commencement remarks delivered by Boone Pickens at December 2005 commencement ceremonies at Oklahoma State University in Stillwater, Oklahoma. Mr. Pickens, a 1951 graduate of OSU, is currently chairman and CEO of BP Capital, one of the nation’s most successful energy-focused investment firms.

Thank you. It’s an honor to address you today.

I have spoken to tens of thousands of college students over the years, but this is a special occasion for me. Starting today, I’ll have a special bond with virtually everyone in this room.

When I look at this crowd, I see difference makers. I see the future. The wisdom that comes with maturity tells me the future belongs to you, not to a 77-year-old guy like me.

Not long ago, I revised my autobiography. It’s called “The Luckiest Guy in the World.” I’ve had a great life. If I get hit by a bus tomorrow, remember I said that.

When I reflect back on my life to this very moment, I know I would not have accomplished half as much without my OSU education.

Just look how far it took this Depression-era baby from tiny Holdenville, OK.

I have been to the White House and visited with more than one president.

Earlier this year I was chosen to receive one of the most distinguished entrepreneurial honors in America…the Horatio Alger Award.

In recent years I have been inducted into the Texas Business Hall of Fame and the Oklahoma Hall of Fame.

I am on the Forbes Magazine list of the 400 richest Americans. Of all the income taxes I have paid in my life, 85 percent of them have been paid since I turned 70.

I wasn’t a dog taxpayer before. The last few years have been pretty good.

I tell you this not to brag, but to dispel something I hear over and over again. “Mr. Pickens, America has changed. I’ll never be able to accomplish what you have.”

If that’s what you’re thinking, you are dead wrong. There’s more opportunity for success today than ever. America remains the greatest country in the world. There’s plenty of opportunity to go around.

Here’s some free advice to help you make the most of it.

Don’t let age be an obstacle. You are young, and you have fresh ideas. You live in a new world and can teach all of us a thing or two.

I’ve made a good living surrounding myself with young people. The average age of my financial team at BP Capital is 30. Someone joked the other day that if I retired, the average age would dip to 17.

Don’t think competition is bad, but play by the rules. I love to compete and win. I don’t want the other guy to do badly; I just want to do a little better than he does.

Learn to analyze well. Assess the risks and the prospective awards, and keep it simple.

Be willing to make decisions. That’s the most important quality in a good leader: Avoid the “Ready-aim-aim-aim-aim” syndrome. You have to be willing to fire.

Be patient. I constantly have to remind myself and my employees about the old adage “Patience is a great virtue.”

Be realistic. . .Dream, yes, but don’t be a day dreamer. [It’s like me wanting to play quarterback for the Dallas Cowboys.]

Learn from mistakes. That’s not just a cliché. Remember the doors that smashed your fingers the first time and be more careful the next trip through.

Don’t look to government to solve problems. . .the strength of this country is in its people.

Stay fit. You don’t want to get old and feel bad! You’ll also get a lot more accomplished and feel better about yourself if you stay fit. Practice moderation…balance home life and work; the key is organization.

Finally, and this may be the most important: Be happy and satisfied with what you are doing. Life is too short. If you’re not happy, find something else to do.

In a minute, you are going to strike out on your own and get down to business. You are probably a little nervous, and that’s understandable. Your lives and routines are about to change dramatically.

Be confident. Go forward with the knowledge that you worked hard and graduated from a great university.

What will it take to move us to the next level and make this a world class institution, both in academics and athletics? OSU alumni. People just like you and me.

This takes a team approach. I want you on the team. You’ll be hearing from me. I promise.

I have contributed more than $100 million to this cause. To me, giving away money is fun. Not as much fun as making it, but it’s a close second.

You are moving on to a new stage, and being a successful adult carries with it certain responsibilities. One of those is an obligation to give back.

As you look to the future, do not forget the past. Remember what OSU has meant to you, and what it can mean to your children and to future generations.

Let me close with this: Our bond is OSU, the privilege we now have of recognizing each other as alumni of OSU, and being on the same team to help this great university achieve its true potential.

Go get ‘em.

Thank you.

Across the OSU System

OSU-Tulsa
OSU-Okmulgee
OSU-Oklahoma City
OSU-Center for Health Sciences