T. Boone Pickens warned a Pittsburgh audience that rising energy costs and America’s continued dependence on imported oil means that billions of hard-earned dollars are being sent overseas. His comments earlier this week coincided with a rise in the price of oil above $100 per barrel for the first time since July.
Pickens noted that our country’s energy security requires the implementation of a national energy plan, one that includes the development of abundant shale-gas reserves.
The alternative is to continue relying on the Middle East for oil, which has cost the United States about $7 trillion since 1976, in return for about 5 million barrels of oil a day, he said.
The legendary energy executive also pointed out that developing America’s plentiful natural gas would create sorely needed jobs while our country is mired in the post recession blues.
Not only will energy independence slash the amount of money going overseas, it will provide “so many opportunities for our country to develop jobs,” said Pickens, arguably the highest-profile oil and gas tycoon in the nation, who is not afraid to offer his sharp opinions on oil and gas policy and politicians.
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