Dallas, TX, June 18, 2009 – T. Boone Pickens offered the following statement today in response to the release of a study by the Potential Gas Committee estimating that natural gas reserves have surged by 35 percent.
“Today’s report substantiates what I’ve been saying for years: there’s plenty of natural gas in the U.S. I launched the Pickens Plan a year ago to help reduce our dangerous dependence on foreign oil, and using our abundant supply of natural gas as a transition fuel for fleet vehicles and heavy-duty trucks is a key element of that plan. On the same day this report is going out, diesel prices are again on the rise, squeezing the trucking industry. Now more than ever we need to take action to enact energy reform that will immediately reduce oil imports.
“The 2,074 trillion cubic feet of domestic natural gas reserves cited in the study is the equivalent of nearly 350 billion barrels of oil, about the same as Saudi Arabia’s oil reserves.
“Legislation like H.R. 1835– The NAT GAS Act– provides the incentives and long-term stability to make the move from imported oil, diesel and gasoline to domestic natural gas, enabling major corporations, municipalities operating fleets, and individual owner-operators the option to buy American at the pump.”