BooneCam

Iraq…here we go again.

Here we go again. President Obama has just ordered thousands of more troops into Iraq to help fight ISIS. Our dependence on OPEC oil helps fuel terrorism. We've made significant strides in reducing our OPEC oil dependence, but we have a long way to go.

Why? Because we needlessly continue to import over 3 million barrels a day.

That's about half as much as we imported when you and I started the Pickens Plan, but we have the energy resources to get off OPEC oil completely and let the Chinese, the Japanese, and the Indians defend the oil they need and use.

We have to keep up the fight to introduce alternative fuels in our transportation system. Natural gas is the one that's available, abundant, cleaner, and it's ours.

Please watch this video and send it along to your friends, family, and colleagues.

DailyPickens

Dec 21 2014

Saudis Will Not Cut Production

Dec 21, 2014

Saudi Oil Minister Ali al-Naimi told reporters on Sunday that OPEC will not decrease production below the current level of 30 million barrels per day. And to those countries outside of OPEC that want to decrease output, he was quite direct: go ahead.

“If they want to cut production they are welcome: We are not going to cut, certainly Saudi Arabia is not going to cut.”

According to Reuters, al-Naimi did not credit the current slump in oil prices to increased U.S. production or decreased global demand. Instead, “He blamed the fall in prices to half their levels of six months ago on speculators and what he called a lack of cooperation from non-OPEC producers.”

Read more about OPEC and global oil prices here.

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Dec 16 2014

T. Boone Pickens and Neil Cavuto discuss the outlook for oil prices

Dec 16, 2014

T. Boone Pickens appeared with Neil Cavuto on Fox Business Channel to discuss oil prices. Boone said that prices have fallen because “demand is half what we had predicted a year ago” yet “inventories are still building.”

He said we should still build the Keystone Pipeline because oil prices are likely to return to the $80 to $100 range in the next 12 to 18 months.

Pickens said the Saudis “are not going to cut output” to raise prices because of their huge cash reserves but “it is killing other OPEC members like Iran, Russia, Nigeria and Venezuela” and “they are making new enemies hourly.”

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