This week, T. Boone Pickens participated in a discussion about oil and natural gas prices and availability with ABC News’ Rebecca Jarvis at The Concordia Summit. He pointed out that the US has the cheapest energy in the world – about a quarter of world price on natural gas, $10-$15 per barrel cheaper on oil, and Americans only pay about half the world price for gasoline.

Pickens said the main reason is the U.S. was producing only 4.5 millions of barrels of oil per day in 1970 (when we became so dependent on OPEC for our oil). Today we have doubled production to 9 million barrels per day. We are just behind Saudi Arabia and Russia in oil production and we lead the world in natural gas production.

“Our technology has absolutely changed the world,” he said.

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