Boone Pickens was on CNBC’s “Closing Bell” program with host Maria Bartiromo and Secretary of Commerce Gary Locke. During the discussion about China, Secretary Locke listed all the forms of energy which China is exploring – oil, solar, nuclear, and wind – to fuel its growing economy. He said that the United States is the world’s technology leader and we couldn’t cede that leadership in alternative energy to China or anyone else.
Boone responded that he absolutely agreed with Secretary Locke but said that neither wind, solar, nor nuclear energy would push an 18-wheeler. Only oil and natural gas was suited to that.
Boone repeated that China was locking in its oil supplies with loans today which will be repaid with oil in the future and also pointed out to the Secretary that China has an energy plan but the United States does not.
Pickens reminded the Secretary that Senator Obama had pledged to wean the U.S. off OPEC oil during the Presidential campaign. He said we are 18 months into the Administration and we need to move the legislation which is currently in Congress to help make that a reality.
— The Pickens Team