In a speech to Midwestern business leaders at the Detroit Economic Club today, leading energy expert T. Boone Pickens challenged heavy-duty truck manufacturers to lead America’s next industrial revolution and help achieve energy security by increasing production of natural gas powered heavy-duty vehicles.
“Foreign oil dependence continues to be the fundamental barrier to economic recovery,” said Pickens. “Embracing domestic natural gas – particularly in transportation – is the only way for us to successfully remove ourselves from this quagmire. By converting heavy-duty fleet vehicles to natural gas, we can cut our dependence on OPEC by half while creating thousands of new American manufacturing jobs.”
“Detroit, at the heart of the world’s automotive industry and as one of the original leaders of American industrialization, stands in a unique position to help America. Some of the beginning efforts are extremely encouraging – Ford is preparing engines to accept natural gas and warranting the conversions, while GM recently released a line of natural gas powered vans for fleet managers looking to cut costs and take advantage of expanding infrastructure.”
“The heavy duty and fleet transportation sector represents a massive share of our energy consumption, and as the price of oil remains high and OPEC continues to hold our economy hostage, boosting production of natural gas powered heavy-duty vehicles is essential to economic transformation. The time is now; the American people just need the opportunity.”
In addition, Pickens provided his monthly update on the level of foreign oil imports in the U.S. Based on the latest figures from the Energy Information Administration, the U.S. imported 56 percent of its oil, or 323 million barrels, in September 2011, sending approximately $36.4 billion, or $842,620.71 per minute, to foreign countries, including OPEC nations that ultimately threaten U.S. national security.
Commenting on the September oil numbers, Pickens offered the following statement:
“Oil imports are on pace to cost the country over $400 billion this year – a 23% increase over last year and a 55% increase over 2009. In the midst of economic turmoil, we cannot continue to spend billions of dollars on a foreign resource that is more expensive and less environmentally friendly.”
“Domestic natural gas gives us a unique and powerful opportunity to turn the tide. By embracing it, we can cut dependence, boost our economy, and redirect the dollars currently going out of the country back into the hands of American businesses. This is precisely why we must pass the NAT GAS Act (HR 1380), which will immediately create 400,000 American jobs. No other piece of legislation will have an effect as immediate and profound.”
The NAT GAS Act encourages the use of domestic natural gas to fuel heavy-duty vehicles, simultaneously creating jobs, strengthening our economy and improving national security. The legislation currently has 182 bipartisan co-sponsors from across the country, and since May the total number of co-sponsors has increased. Co-sponsors include Tea Party members from the Republican Study Committee; the Black Caucus; and, the Blue Dog Coalition. Additionally, President Barack Obama has declared his support for using natural gas to wean America off OPEC oil and secure our energy future.