In his monthly update on the level of foreign oil imports in the U.S., energy expert T. Boone Pickens said that based on the latest figures from the Energy Information Administration, the U.S. imported 59 percent of its oil, or 332 million barrels in November 2011, sending approximately $36.7 billion, or $851,221.30 per minute, to foreign countries, including OPEC nations that ultimately threaten U.S. national security.

Importantly, the monthly cost of foreign oil has grown over $10 billion in the last two years, as the U.S. paid $26.4 billion in November 2009 and $28 billion in November 2010. The $36.7 billion the U.S. spent on foreign oil in November 2011 represents a 31% year-over-year increase.

Commenting on the November oil numbers, Pickens offered the following statement:

“It was recently revealed that the U.S. has become a net exporter of oil products. Accordingly, some are falsely proclaiming that our energy problems are cured. This rhetoric could not be more misleading. While the absolute level of imports has dropped from 2007, the total amount of money spent is higher because price continues to climb.”

“In 2007, OPEC provided 44 percent of our imported oil. In 2011, so far, we are still depending on OPEC for 43 percent of our imported oil. The national security risk of importing OPEC oil is as high now as it has ever been.”

“Meanwhile, we continue to sit on vast untapped reserves of domestic natural gas, which can transform our economy and also happens to be cheaper, cleaner, and more abundant than oil. However, the transition to natural gas hasn’t naturally occurred in the market due to a quagmire produced by our oil dependency: there are a small number of natural gas vehicles (NGVs) because there are so few fueling stations – but nobody will invest in fueling stations until there are more NGVs.”

“The NAT GAS Act solves this dilemma by providing a modest, fully paid-for tax exemption for a limited period of five years for those purchasing NGVs or converting to natural gas engines. The exemption will cost the government nothing and will spark American NGV manufacturing – immediately creating at least 400,000 good jobs as well as cutting our dependence on OPEC by half.”

“Special interests, including those who are dependent on OPEC oil for their refining needs, argue that government shouldn’t pick transportation fuel winners and losers. They are blind to the fact that the failure to pick winners picks one: OPEC oil and diesel. We are left the losers. We will go down as the dumbest generation ever if we don’t go to work replacing dirtier, more expensive OPEC oil/diesel with our cleaner, cheaper natural gas.”

“America desperately needs Congress to create jobs, spur the economy, and set a new course for our energy future – pass the NAT GAS Act.”

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 181 bipartisan co-sponsors from across the country. 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.

If you missed Boone’s appearance on MSNBC’s Morning Joe yesterday, watch below.

Visit msnbc.com for breaking news, world news, and news about the economy

As we move into the final Congressional push of the year, we’ve received some very good news: A new report by the National Petroleum Council (NPC) has affirmed other studies showing that not only do we have an abundance of natural gas in the United States, but we have so much natural gas that “projected supplies can meet any projected demand through [at least] 2035.”

That means that a quarter of a century from now, we’ll have as much natural gas available as we do today and our previous estimates of a “100 year supply” are extended for an additional 25 years.

The results of this study have an effect on just about every aspect of the Pickens Plan you have been working so hard to get Congress to adopt including:

– economic (jobs and taxes)
– environmental (lower emissions)
– national security (reduce OPEC imports)

If you haven’t already, I need you to contact your Member of Congress and your U.S. Senators and tell them that the National Petroleum Council study makes passage of the bipartisan NAT GAS Act (H.R. 1380 in the House and S. 1863 in the Senate) an absolute necessity. If you’ve already contacted them, please ask your friends and family to do so, as well.

Thanks,
Boone

The Honda Civic GX was named “Green Car of the Year” at the Los Angeles Auto Show last month. A variety of attractive features contributed to the selection, including some that had little to do with the car itself, such as abundant new supplies of shale gas that substantially lower the operating cost of the GX:

Discoveries of new U.S. natural gas deposits have pushed down prices to around $2.00 a gallon. That’s nearly 40 percent less than the price of regular gasoline.

In addition, the Honda’s natural gas engine emits 30 percent less carbon dioxide than a similar gas-powered engine.

Another handy aspect is the fact that a natural gas engine requires just a few minutes to fill. Electric powered cars take several hours to recharge, and they don’t have near the range of natural-gas powered vehicles such as the GX, which can travel up to 250 miles on a single fill-up.

Read more HERE.

Senator Tom Coburn (R-OK) released the following statement today in support of the transition of natural gas to a transportation fuel as proposed in the NAT GAS Act:

“I fully support efforts to advance the transition of natural gas into a transportation fuel. This bill is a good start but does not go far enough because it neglects the real problem, which are EPA and IRS regulations that have made the process of converting transportation vehicles non-economically viable,” said Dr. Coburn.

“Still, Congress can help support this process by eliminating these existing obstacles to conversion and retail fuel sales, which would free up manufacturers, filling stations, and motorists to sell and consume natural gas fuel,” said Dr. Coburn.

The Republican Senator is a member of the Judiciary Committee, Homeland Security and Governmental Affairs Committee, and the Committee on Finance.

Since his election to the Senate in 2004, Dr. Coburn has offered more amendments than any of his colleagues, including ones to eliminate funding for Alaska’s Bridge to Nowhere, New York’s Woodstock Museum, and countless other earmarks sponsored by members of both parties.

Dr. Coburn has also worked to make government more accountable and transparent. In 2006, he teamed up with then-Senator Barack Obama to create USAspending.gov, an online database of all federal spending.

Read Senator Coburn’s complete statement HERE.

U.S. News & World Report editor-in-chief Mortimer Zuckerman penned an insightful op-ed for The Wall Street Journal last week. It was on the critical steps necessary to secure America’s path to energy security. The crux of his commentary is that recent technological innovations surrounding shale gas have made it possible for the U.S. to end its dangerous addiction to Middle Eastern oil, ” but only if we can sort out our priorities.”

The good news is that the United States is at the center of a global energy revolution. Our development of innovative shale-gas technology offers the prospect of a huge bonanza of natural gas (and some oil as well). It’s the most positive event in the country’s energy outlook in 50 years.

Zuckerman sees the development of shale gas as a “seismic shift in the energy landscape,” one that could possibly lead to American self-sufficiency. He mentions the possibility of the U.S. once again becoming a major world source of energy. Thanks to using seismic mapping, three-dimensional imaging, and new drilling techniques, “technology has trumped geology.”

The process of finding and producing hydrocarbons from this shale has taken off with such velocity that it has already significantly altered government and corporate energy expectations. The production costs of shale gas are about one-half to one-third the costs associated with new conventional gas wells in North America. The result is a glut of new supply and plummeting prices.

In his op-ed, Zuckerman points out that many communities “protest the noise and scarring of the landscape during the initial explorations.” He also counters contamination fears about the wastewater from the fracking process, which is so essential to untapping shale gas.

State regulators in Alaska, Colorado, Indiana, Louisiana, Michigan, Oklahoma, Pennsylvania, South Dakota, Texas and Wyoming have stated that there have been no verified or documented cases of groundwater contamination as a result of hydraulic fracking.

His final points are focused on the critical benefits of Americans utilizing more natural gas:

First, greater use of natural gas is a big plus in the struggle to reduce emissions of greenhouse gases, since natural gas emits less than either coal or oil. Natural gas is also a substitute for gasoline or diesel in many vehicles (e.g., city buses).

Second, natural gas is already putting downward pressure on oil prices. Falling oil prices will mean substantial savings. Gas can also make us much more resilient to shocks of supply disruptions and even conflicts, eroding the power of major oil producers like the OPEC nations (recall the “oil crisis” of the 1970s) and Russia.

Read Zuckerman’s complete op-ed HERE.

The editorial board of The Oklahoman took a long hard look at what Washington is doing to develop an energy plan for America. The end result? The Oklahoman is throwing in the towel.

On the one hand, the Energy Department wants to go green. On the other, the White House is tabling a plan to import oil from Canada. The State Department has just announced a new bureau to address energy policy, which, according to The Oklahoman, is essentially going to maintain our reliance on Middle Eastern oil.

This lack of a coordinated planning reminds The Oklahoman of “two oil tankers passing in a misty night.”

The editors did make reference to the Pickens Plan, however.

Boone Pickens has a plan for energy. Many people do. But Sam’s your uncle and he doesn’t have one. He’s on a tanker bringing more oil from the Persian Gulf, engaged in “vigorous diplomacy” to preserve the energy status quo.

Read the complete editorial HERE.

T. Boone Pickens warned a Pittsburgh audience that rising energy costs and America’s continued dependence on imported oil means that billions of hard-earned dollars are being sent overseas. His comments earlier this week coincided with a rise in the price of oil above $100 per barrel for the first time since July.

Pickens noted that our country’s energy security requires the implementation of a national energy plan, one that includes the development of abundant shale-gas reserves.

The alternative is to continue relying on the Middle East for oil, which has cost the United States about $7 trillion since 1976, in return for about 5 million barrels of oil a day, he said.

The legendary energy executive also pointed out that developing America’s plentiful natural gas would create sorely needed jobs while our country is mired in the post recession blues.

Not only will energy independence slash the amount of money going overseas, it will provide “so many opportunities for our country to develop jobs,” said Pickens, arguably the highest-profile oil and gas tycoon in the nation, who is not afraid to offer his sharp opinions on oil and gas policy and politicians.

Read more HERE.

Earlier this week, the U.S. Senate introduced the NAT GAS Act (S. 1863), a bi-partisan, fully-funded bill which will help cut oil dependence by jump starting the use of natural gas vehicles (NGVs) in the United States.

Your U.S. Senators need to hear from you now. Click here and email them today to let them know you support this crucial legislation.

This bill — along with similar legislation in the House (H.R. 1380) — will reduce our dependence on OPEC oil by half in just five years by moving our national fleet of 8.5 million over-the-road trucks from burning dirty imported diesel to running on cleaner domestic natural gas.

Let’s get this done together — email your Senators today.

The Wall Street Journal is reporting that a new bureau at the State Department has been created that will focus exclusively on energy and energy-related topics.

The new Bureau of Energy Resources, which opens shop Wednesday, is designed to help shore up stable supplies of affordable energy for the U.S. and avoid crippling effects of supply shocks and disruptions.

Carlos Pascual,  a former U.S. ambassador to Ukraine and Mexico, will head the new bureau. Pascual said the office’s main goal is to manage the “geopolitics of the energy world.”

Making the most of America’s ever increasing supply of shale gas will be a top priority of the Bureau of Energy Resources.

A key focus for the new bureau will be the revolution in natural-gas markets brought about by the advent of shale gas in the U.S. and overseas. The shift has allowed the U.S. to greatly boost production of natural gas, and other countries, including China, are following suit.

Read the entire story HERE.

T. Boone Pickens was the guest host on CNBC’s popular business program “Squawk Box” this morning.

Among the items Boone discussed was the Pickens Plan, our vast domestic supplies of natural gas, and the introduction of the NAT GAS Act (S. 1863) in the Senate this week.

At the conclusion of the hour, Boone was asked to sum up his thinking about oil and natural gas.

Speaking about OPEC oil supplies he pointed out that King Abdullah of Sauda Arabia is in his late 80’s and not in good health. The Saudis produce 9.7 million barrels of oil per day and if “Saudi production starts to get squishy, the price of oil will shoot up and we may be looking at $300 to $500 a barrel.”

Boone also pointed out the amount of money it costs Americans to protect OPEC oil - the Fifth Fleet and divisions of ground troops should be added into the total cost which, “If you go back and look at all the costs for the last ten years, it’s more like 7 trillion counting army, navy, marines and everything else.”

He concluded by saying the “Pickens Plan is just one small step to energy security and energy independence. It isn’t going to solve the problem, but you have got to start in the direction of a solution, not just sit here and import more and more OPEC oil.”

“You could solve the problem. You could do it in five years and jobs would be a big part of it,” Pickens said.

Today, Senator Robert Menendez (D-NJ), Majority Leader Harry Reid (D-NV), Senator Richard Burr (R-NC) and Senator Saxby Chambliss (R-GA) introduced the NAT GAS Act of 2011 to encourage the use of domestic natural gas to fuel vehicles. The legislation is the Senate’s version of the H.R. 1380, which has broad bi-partisan support in the House with 181 co-sponsors.

Commenting on the introduction of the Senate Bill, T. Boone Pickens offered the following statement:

“It is so encouraging to see Republicans and Democrats come together to put America first. I salute Senators Menendez, Burr, Chambliss and Majority Leader Reid for recognizing that we need a fiscally responsible energy policy that cuts dependence on foreign oil while creating American jobs, lifting our economy, enhancing our national security, and protecting our environment.

“This is a great opportunity to end four decades of unfulfilled promises by our elected leaders to end America’s dependence on foreign oil. America’s energy future is the key to our economic viability and creating jobs now. These should not be partisan issues, which is why I expect this Senate Bill will experience such broad support from both sides of the aisle.

“Nothing in America has such a thoroughly transformative economic potential as domestic natural gas. Simply by increasing the use of domestic natural gas in vehicles, we can get on our own resources, immediately create 400,000 good jobs, redirect billions of dollars of foreign oil money back into the hands of American businesses, and cut our dependence on OPEC by half.

“If past experience is any indication, I have no doubt that special interests that only care about themselves will attempt to create false arguments and false choices to stop this legislation. I sincerely urge the Senate to recognize those voices for what they are – obstacles of change and endorsers of the status quo, which is not working.

“On behalf of the American people, I ask the Senate to do what is unquestionably in America’s best interest: seize this unique and powerful opportunity and pass this bill.”

The highly respected Pittsburgh newspaper, the Post-Gazette, published an essay by T. Boone Pickens entitled “In Search fo the Perfect Fuel.”

In that op-ed, Boone described the activity of the U.S. Department of Energy as spending “billions of dollars trying to find the perfect fuel.”

He said the Department’s focus has been “30 years from now” but “we need a plan that can make a difference in 30 months, not 30 years.”

Boone points to natural gas - and especially the massive amounts of natural gas which are available in the Marcellus Shale deposits - saying it might not be a perfect fuel but “it comes closer than anything else we have right now.”

He writes that natural gas is: plentiful, relatively easy to transport, cleaner than coal or oil, cheap, and is a domestic energy source.

He writes that the U.S. House is considering a bill (H.R. 1380) which has over 180 bi-partisan co-sponsors. The Senate is expected to have a similar bill introduced shortly.

Boone says fracking is a proven technology but a half-century of experience “does not absolve the industry of communicating honestly and openly with the public.”

To read the entire op-ed click HERE.

– The Pickens Team

The Philadelphia Inquirer is reporting that the U.S. shale gas bonanza could lead to lower transportation costs, cheaper electricity, and the revitalization of the country’s manufacturing sector.

But as Andrew Maykuth of The Inquirer points out, this abundance has brought other possibilities into play, including shipping this abundant American fuel to markets overseas.

Five applications to build liquefied natural gas (LNG) terminals have been received by the Department of Energy; one has already been approved.

Key decision makers in Washington are alarmed at the possible effects this could have on developing America’s energy security.

“How can we ensure that our export policy is consistent with our continued ability to reap the benefits of our newfound abundance of natural gas?” says Senator Jeff Bingaman, chairman of the Senate Energy and Natural Resources Committee.

Read the entire story HERE.

T. Boone Pickens appeared on the Fox Business Channel to discuss his plan to utilize natural gas as a step in helping build a national energy plan.

Boone said that the Nat Gas Act (H.R. 1380) and an expected Senate bill are a product of working with Washington which is always “slow going.”

He said the Department of Energy should be helping solve energy problems facing Americans today but “they’re talking about energy 20-30 years in the future.”

Boone said that heavy trucks will go to natural gas because it is cleaner than diesel and “two dollars a gallon cheaper” but that the government could jump start that process and help get it done in five years.

To see the entire interview on Fox Business click HERE.

– The Pickens Team