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Americans want an energy plan, instead they get politics

DailyPickens

Mar 20 2015

We’re making progress in Pennsylvania!

Mar 20, 2015

As we continue our fight for energy security, natural gas as a motor fuel continues to advance our cause.

The United States now has over 1,600 natural gas refueling stations. This represents an increase of almost 100 percent since 2009. Liquefied natural gas (LNG) is playing a key role in repowering America’s eighteen wheelers, a category of vehicles which burn over 25 billion gallons of fuel per year.

Subsequently, if not simultaneously, a nationwide refueling network is beginning to emerge along the main trucking routes and interstates. However, barriers to investment, such as tax increases, stifle development.

In January, the Pennsylvania Department of Revenue announced that LNG would be reclassified from an alternative fuel to diesel fuel under the tax law, thereby raising the fuel tax by 14.3 cents. Luckily on March 5th, Governor Tom Wolf announced that he had reversed the decision in order to promote clean energy alternatives to imported petroleum.

In his press release, the Governor stated, “Given the immediate environmental benefits of fueling trucks with LNG and the future economic gains that will come from further development of the alternative fuels industry in Pennsylvania, it makes no sense to discourage LNG consumption by taxing it at a higher rate.”

I commend Governor Wolf for his foresight and will continue to monitor the energy policy decisions made in the Keystone State which without a doubt affect the energy security of our nation.

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Mar 18 2015

U.S. Oil and Gas Companies Owed a Big Thanks

Mar 18, 2015

Speaking in Washington with the Financial Times earlier this week, T. Boone Pickens said that consumers of oil and gas products around the world owe U.S. exploration and production companies a debt of gratitude for lifting American production to 9.4 million barrels per day.

“If you did not have the U.S. oil today …do you know where you’d be? You’d be at $150 to $200 [per barrel] oil. The United States is the one that saved the world from a very, very high oil price. Do they get credit for it? Hell no. Give ‘em credit for it.”

Pickens also pointed out that responsibility rests with U.S. producers, not the Saudi government, to decrease the glut of oil that is pushing down the price of oil globally.

“That’s the resources of Saudi, and they can do what they want to with their resources … We’ll adjust to it. That’s just life. Why do we expect the Saudis to cut [production] for us? We’re the ones that overproduced,” Pickens said.

As the Times noted, “U.S. production reflects the decisions of individual companies that take no instructions from Washington.” Meanwhile, state-owned oil companies such as Saudi Aramco are government entities that adhere to national policy dictates.

“The U.S. has got to balance its market instead of the Saudis,” Pickens said.

Learn more about Pickens’ insights about America’s energy renaissance.

 

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