Tags: Pickens | Energy | natural | gas

Pickens: I'm Done Pitching Cheap Energy to Washington

Friday, 11 May 2012 02:39 PM

Billionaire oilman T. Boone Pickens is fighting to get government trucking fleets to switch to cheap and plentiful natural gas. Most politicians don't care, he says.

"When this one's over for me, I am through with Washington," says Pickens, according to CNBC.

Pickens has run into resistance while pitching Congress to pass the Energy Security Act, which would spur the development of natural gas.

Pickens has argued the U.S. is too dependent on foreign oil and points out the country has plenty of resources at home.

"What I'd like to do is get our own resources in the United States and get the hell out of the Middle East," Pickens says.

Pickens adds he won't retire, pointing out the country will discover the benefits of natural gas some day.

"I'm the geologist that is never pessimistic. Geologists can't stay pessimistic because they drill so many dry holes," Pickens says.

"This one's a dry hole for me up there."

Natural gas is abundant in the U.S., and some say the country could even export natural gas thanks to the size of the shale deposits, although critics say the use of new technologies associated with fracking pollute both air and water.

The U.S. Department of Energy estimates that 482 trillion cubic feet of natural gas lies beneath the ground in the U.S., which at the current rate of consumption, represents a 90-year supply.

"In a very short period of time, it has completely transformed the outlook for energy in the United States," says Mary Barcella, a natural gas expert at IHS Cambridge Energy Research Associates, a consulting firm in Cambridge, Mass., according to the Christian Science Monitor.

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Friday, 11 May 2012 02:39 PM
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