Our dependency on foreign oil, and especially that of OPEC producers, is putting the U.S. at risk, and the imports we bring in cost more to protect than they do to actually purchase — about $5 trillion since 2003.
T. Boone Pickens thinks enough is enough, especially after the shale boom has significantly boosted the United States’ crude reserves.
Yet, we can’t ignore the fact that we’re still relying heavily on OPEC for oil imports, especially in the transportation sector.
T. Boone Pickens went so far as to suggest that these imports may be helping fund such terror groups as ISIS and Al-Qaeda, saying:
“Oil from the Middle East is no longer just an economic issue. It has become a national security issue.”
The answer, according to him, is the other shale resource that we hold in vast quantities: natural gas.
Of course, he’s also putting his money where his mouth is, and is a large shareholder in Clean Energy Fuels, which focuses on supplying natural gas for transportation fuel. This is the main goal of the 2008 Pickens Plan as well.
Even if only heavy-duty trucks were to convert, it would be a huge step.
However, Mr. Pickens also understands that this may be a more difficult step for consumer vehicles, smaller cars and trucks, which is why he supports battery-powered vehicles to reduce the need for imported oil.
The end goal, he says, should be an improved North American Energy Alliance with both Canada and Mexico to further cut ties with dangerous Middle Eastern oil.
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