Natural Gas Investing: T. Boone Pickens Thinks You’re An Idiot
T. Boone Pickens thinks Americans are a bunch of dummies.
And you know what? I would have to agree with him.
Now don’t get mad…
He’s not specifically talking about you and me. He’s referring to the politicians who control America’s energy policy.
You know, the “dummies” sitting in the White House and Congress…
In a recent CNBC interview, Pickens was discussing America’s dependency on foreign oil. He eventually led to facts about natural gas supplies here in the US.
If you’re not up to speed with natural gas, let me give you a quick update…
We have more natural gas than we know what to do with here in the US. Recent advances in drilling technology are unlocking huge natural gas reserves… a fuel that can play a big role in our transportation system.
But our policy makers in Washington can’t seem to figure it out. The US transportation system is still stuck on oil…
Eighteen-wheelers and other heavy trucks you see on the freeways run on diesel. And most federal and state government vehicles run on gasoline.
Of course, a lot of the oil used to make those fuels is imported from OPEC. You know, the oil-rich countries controlling most of the world’s crude supplies.
Yeah, those guys… we got over 1.7 billion barrels of oil from them in 2010.
Here’s where it gets downright silly…
We have the capability to run America’s big rigs on homemade natural gas… right now. But instead of implementing natural gas for transportation here in the US, we’re planning on shipping it overseas.
Yep, the US Department of Energy just gave the OK for Cheniere Energy (LNG) to export liquefied natural gas overseas. According to the plan, places like Japan and China will be getting cheap American natural gas.
At the same time, US truckers, farmers, ranchers, and many others will be suffering with astronomical diesel prices.
Here’s what T. Boone had to say in the CNBC interview…
“So here we are, we’re exporting our clean-burning fuel (nat gas) and importing dirty oil… We’re gonna go down as the dumbest crowd in history…”
The sad truth is… he’s right!
Why aren’t US policymakers pushing full steam ahead on natural gas? We need to use it in every possible way here in the US. We already use it for electricity generation, heating, cooking, etc…
Why can’t we use it for transportation?
Get our eighteen-wheelers, farm and ranch equipment, and federal/state vehicles burning the stuff. Doing so would go a long way to reducing our dependence on expensive foreign oil.
The engine technology is already available…
Companies like Westport Innovations (WPRT), Cummins (CMI), and Fuel Systems Solutions (FSYS) all have natural gas fuel systems. What’s more, their systems are road tested and proven to work effectively.
Think about it…
It’s insane to keep importing 360 million barrels of oil a year from the likes of Hugo Chavez in Venezuela… like we did in 2010. That guy hates America and he’s not afraid to say it.
I like T. Boone Pickens. He has some great ideas…
Let’s get America running off homemade energy. We have the supplies, the technology, and the manpower to cut OPEC imports by a huge margin.
Wake up US energy policy makers… stop sending hundreds of billions of dollars to OPEC!
Category: Commodities
