- Energy industry moving back to United States
- BooneCam | February 19th, 2014
Congratulations! We live in the only country on Earth whose oil and gas production is increasing along with its reserves. America is enjoying an energy renaissance while the rest of world is suffering a decline in reserves and production and a corresponding increase in prices.
This is big news. Cheap, abundant, domestic energy affects everything from employment to cost of living, and from the environment to national security. It makes the U.S. more appealing to manufacturers. And our dependency on OPEC oil continues to decrease.
These newfound energy resources are a great national treasure. Watch this video for my thoughts. Then tweet me yours at @BoonePickens.
- T. Boone Pickens on CNBC and Fox Business
- The Daily Pickens | March 11th, 2014
Earlier today, T. Boone Pickens was a guest on CNBC’s Squawk Box. Immediately following, he was Maria Bartiromo’s guest on Fox Business. Following are excerpts from Boone’s interviews and links to videos from the shows.
On the Keystone Pipeline
“I can’t believe that for six years you’ve had a Christmas present on the front porch. A guy knocks on the door and says, ‘Here’s a nice present for you,’ and you say, ‘Well, we’ll think about it.’ It’s nuts. Here you have oil offered to you, you don’t have to have the fifth fleet in the Persian Gulf, you don’t have to have your military, you don’t have to have anything to protect it, here it is, you can have it, and it’s all for you and we’re still sitting here. ”
On Weights and Measures
“We tried in Washington to get something done. We now are working at the state level. We’re getting some of the archaic stuff out of there now. Somebody all at once showed up and they want to sell natural gas on a kilogram basis. What is this all about? We already have converted natural gas, mcf, over to diesel gallons. It’s very simple to do. You wonder where some of this stuff comes from.”
On Filling Stations
“The stations are in. They have 100 stations on the interstates now. That’s ready to go. Don’t worry about that. If you talk about the government doing the infrastructure, that’s a nightmare. That will with be a huge mistake. It’s something the left and right could come together on.”
“Because of a cold winter, we’ve drawn down storage to where we’ll be under a trillion in storage and that’s the first time that’s ever happened to us. What does it mean? It means we still have a lot of natural gas. We had almost 4 trillion in storage. We pulled down and we’re under 1 trillion coming out of storage. That will end at the end of March.”
“We could do better. Just letting the markets work and money go where it’s treated best has done pretty well with the shale revolution. The leadership should be, they should come and do the Southern California deal on trash trucks, take the heavy-duty trucks to natural gas is what you should do. When you do that, you’ll cut off 3 million barrels a day.”
“We import 4 million barrels a day of OPEC crude. Cut 75% of it out with 6 million trucks.”
- Oil and Natural Gas as Weapon of War
- The Daily Pickens | March 10th, 2014
The following op-ed by T. Boone Pickens appeared originally on Forbes.com
With Russia’s invasion of Crimea, the threat is greater than Vladimir Putin’s ambitions, the real danger to the world is that oil and natural gas are once again being used as a weapon of war.
This isn’t the first time. When Russia cut off natural gas supplies in 2009 to Ukraine and six other countries in the middle of winter, millions were left in the cold until they paid Russia’s ransom in the form of higher prices. It was a stark example how vulnerable Europe had become to Russia’s control over energy resources. I said at the time it should be a wake-up call to an America confronting its own foreign oil dependence issue and the national security and economic threats that come with it.
We rely on oil suppliers around the world for half of the oil we use. Our OPEC oil dependence is particularly troubling. We’re caught in OPEC’s web that has entangled us in wars and Middle East politics and costing thousands of American lives and trillions of tax dollars.
I launched the Pickens Plan to help America get free from dangerous oil and make sure energy could never again be used as a weapon against us. I’ve urged America to use our vast domestic resources to create a real alternative to OPEC oil, and natural gas is the only resource to do that. But now it seems like everyone with a microphone is calling on the United States to begin exporting natural gas to Europe to undercut Russia’s power over the region.
I have nothing against exporting American natural gas – thanks to hydro-fracturing and horizontal drilling we’ve got more of it than anyone else in the world – but it’s foolish to think we can just turn on the tap and expect Russia to melt like the Wicked Witch. Realistically, it will be early 2016 at best before any of the permitted liquefied natural gas export facilities come on line. Rome wasn’t built in a day, and Russia’s expansion plans can’t be thwarted with our energy overnight.
Russia is the world’s second-largest supplier of oil and has tremendous power over the market. While America’s oil and natural gas industry has achieved stunning increases in domestic production, this has done nothing to alleviate our vulnerability to foreign oil. Russia’s intrusion into Ukraine last week caused our prices to spike $3 in a single day. This dangerous dependence makes us just as vulnerable to state-sponsored energy-terrorism as Ukraine, which is why we can’t liberate Europe from its dependence until we’ve freed ourselves first.
The fact is, the only way American can reclaim control of its foreign policy is to take advantage of our own resources. The best way to make a big difference quickly is to transition heavy-duty trucks from diesel to natural gas. That is beginning to happen. More and more trucking, delivery, and refuse and recycling companies are switching to natural gas – compressed or liquid. All up and down our Interstate highway system LNG and CNG fueling islands are sprouting up. It’s a great start, but we need to do more.
We should step back, look at all our resources and build a real plan to make the highest and best use of them right here at home. Reducing our dependence on dangerous oil will do more than just make America safer and stronger, it will lower demand and hit Russia where it really hurts: In the value of its oil and gas exports. Long-term strategic thinking and energy planning can be used to cripple foreign governments. President Reagan proved that in 1982 when he worked with Saudi Arabia and encouraged them to overproduce oil, ultimately collapsing oil prices…and Russia. It’s unlikely we have that same card to play with the Saudi’s today, and it would bust our domestic industry anyway. But we do have other cards to play, and natural gas as a fuel substitute for OPEC oil is the trump card.
Putin’s invasion of Crimea shouldn’t be fodder for the cable chat shows, it should be a rallying cry for American energy policy. It should remind us that we are blessed with enormous natural gift and we should have a plan to properly use those resources to be sure foreign oil can never again be used as a weapon of war.
- Brand New Year, Same Old Story
- The Daily Pickens | February 24th, 2014
Despite the fact that domestic energy numbers are surging and newer vehicles are becoming increasingly efficient, America’s dangerous addiction to foreign oil shows little sign of diminishing in 2014.
According to figures released by the Energy Information Administration this week, Americans spent more than $30 billion on imported oil in January. That’s a little less than what we spent in December, and it’s a little more than what we spent in November. These minor fluctuations can be attributed to minuscule differences in the price per barrel and the number of barrels imported.
Same story, different year. But wait … it gets worse.
It turns out that the amount of oil we imported from OPEC countries actually increased. According to the most recent figures from the Energy Information Administration - November 2013 - the U.S. imported 106 million barrels of OPEC oil at a total cost of $11.4 billion.
Isn’t it time America got the energy plan it deserves?