T. Boone Pickens was a guest on CNBC Wednesday morning talking about the Pickens Plan and the need to reduce our dependence on foreign oil.
CNBC’s summary of the conversation quotes Boone as saying,
“We need to get off OPEC oil, and that’s what I want. Right now, with two wars in the Middle East (Iraq and Afghanistan), we are importing oil from the enemy.
“We’re getting on average 70 percent of our oil from foreign sources and we need to reduce that. It’s a security issue as far as I’m concerned. I don’t mind getting oil from Canada, but not the Middle East. This has put us close to disaster.”
A centerpiece of the Pickens Plan is to move 18-wheelers off imported diesel and onto domestic natural gas. Boone said:
“It would take seven years to accomplish the transfer of the 8 million trucks to natural gas at a cost of about $65,000 per truck. You would end up cutting OPEC oil imports in half by doing that. It would be 2 and a half million barrels a day instead of 5 million.”
To read the entire CNBC article and a clip of Boone’s appearance, click HERE
— The Pickens Team