• This is a rush transcript from "Your World With Neil Cavuto," September 3, 2008. This copy may not be in its final form and may be updated.

    NEIL CAVUTO, HOST: You know, Sarah Palin has had a very long kind of a love-hate relationship with oil companies. They love to hate her, but they sure as heck hate to lose her. Here's why. Because, while she squeezes them for every buck in Alaska, she pushes very hard for their right to drill and made a lot of bucks in Alaska, which I guess is why someone like Boone Pickens would be impressed with that.

    The legendary oil man, now wind man, very rich man joins me right now.

    Boone, good to always have you. Thank you.

    T. BOONE PICKENS, FOUNDER & CHAIRMAN, BP CAPITAL: Thank you.

    Video: Watch Neil's interview with oil tycoon T. Boone Pickens

    CAVUTO: What do you think of the ticket?

    PICKENS: The ticket?

    CAVUTO: Yes.

    PICKENS: I was surprised at — at the senator picking the governor. But I don't know. I — I kind of like her style.

    CAVUTO: Yes.

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    PICKENS: she — it looks to me like she does not back up from anybody.

    CAVUTO: Right, even oil companies. She has, like, a little tension convention going with them, right?

    PICKENS: Oh, I think so. I think so.

    But who is it that hired her? Alaska. And she works for Alaska, is what it is, I mean. And the oil companies are wanting acreage. They're wanting to drill in Alaska. That's fine with her. But she's going to...

    (CROSSTALK)

    CAVUTO: She wants her pound of flesh for that, right?

    PICKENS: That's right. She's going to wring every dime out of...

    (CROSSTALK)

    CAVUTO: Good businesswoman.

    PICKENS: But that is who hired her, was the — the Alaskan people.

    CAVUTO: And she's got an 80 percent approval rating, not too shabby.

    I want to update a couple of news items since you were last year. NBC was not running your — your latest ad campaign. You appeared with us. You talked to us about it. Soon afterwards, boom, something happened.

    PICKENS: Two hours.

    CAVUTO: Wow. What happened?

    (LAUGHTER)

    PICKENS: Pretty quick.

    Well, I talked to you. And it — I think they rethought it, and said, go ahead and run the ad.

    (CROSSTALK)

    CAVUTO: So, now it is running?

    PICKENS: Yes. It's the one on Iran, where...

    CAVUTO: Right.

    PICKENS: ... I said, you know, get this. The Iranians are switching all their vehicles over to natural gas, and we're not doing anything about it. And that is what did — that's one — it is a 15-second ad.

    CAVUTO: Right. How did they explain again why they would not run it?

    PICKENS: Said they did not have time to look at it. So...

    CAVUTO: Really? And then they looked at it, and then they did run it?

    PICKENS: Mm-hmm.

    CAVUTO: You are being very quiet about it. You're not buying any of it. Well, they are running it, so you don't — you don't — you're happy now.

    PICKENS: Sure. That's right. That is right.