“No one should be fooled by this report… this is, afterall, a group that includes and represents foreign oil companies, interests and holdings.”
Legendary energy executive T. Boone Pickens issued the following statement today in response to the American Petroleum Institute’s newly-released “State of American Energy” report:
“The report issued by the American Petroleum Institute providing its view of US energy misses the mark on one of the greatest threats facing the nation — the national security risk of reliance on OPEC oil.
“No one should be fooled by this report or surprised by its focus. This is, afterall, a group that includes and represents foreign oil companies, interests and holdings,” said Pickens.
Pickens said the API report — “The State of American Energy” — did get one thing right: America has an ever-increasing supply of natural gas and those reserves and development of untapped shale resources should be utilized to meet expanding energy needs, especially in power generation.
“The API ignores the fact that you cannot address the national security and economic threat of OPEC dependency without focusing on transportation. That accounts for more than two-thirds of US oil use,” said Pickens. “The API focuses on improvements in diesel, but it is still primarily a foreign fuel with emission benefits far less than our abundant supplies of domestic natural gas.”
Pickens reiterated his call for government leadership to promote domestic natural gas as a transportation fuel alternative to foreign diesel in the nation’s heavy duty fleet vehicles.
“With respect to natural gas in transportation, API’s interests don’t tie to America’s best interests,” Pickens said.