Dallas, TX – January 31, 2011 – Legendary energy executive T. Boone Pickens issued the following statement today urging Congress and President Obama’s Administration to move now to enact an energy policy that addresses the national security and economic risks associated with the United States’ ever-escalating dependence on oil from the Middle East:
“The turmoil in Egypt and growing concerns about more crises in the Middle East has the potential to interrupt our oil supplies and drive prices higher. Brent crude oil, the global benchmark, closed at $101.01 today – its highest level since late September 2008. Our dependence on oil from the Middle East creates a national security and economic risk that is totally unnecessary.
“The question isn’t whether there will be more uncertainty in the Middle East. That’s a question of when not if. The greater question is whether our leadership is ready to solve this problem once and for all.
“I urge Congress and the Obama Administration to enact energy legislation now that gets America on our own resources. We have a tremendous supply of natural gas that can be used as a transportation fuel and is an immediate alternative to OPEC oil.”