T. Boone brought his Pickens Plan to the readers of the New York Daily News this weekend. Here’s a sample:
Most New Yorkers remember the old national debt clock in Times Square. It ticked upward every second to show how deep in debt our country was growing – to awaken Americans to a crisis.
We’ve got an even greater problem now, with consequences far more significant: Our dangerous and growing dependence on foreign oil, an issue that will require us to spend $700 billion this year, which is more than four times the cost of the Iraqi war.
Like many of you, I ignored the telltale signs as our imports of foreign oil grew from 24% in 1970 to 42% in 1990 to 70% today.
With only 4% of the population and 3% of the world’s oil reserves, we now consume 24% of the world’s oil.
We have had three years of record oil price increases. And while oil supply is decreasing, demand will only increase as developing nations consume more oil. Which will drive prices even higher.
We have drifted for decades without an energy plan. We cannot afford to wait any longer.
Full op-ed here.