T. Boone Pickens: Calling It Like I See It

…I’ve been in the energy business my entire professional career, and since 1950 I’ve watched our country go from buying some foreign oil to buying a lot of foreign oil to buying too much foreign oil.

Do you think the U.S. can afford to spend half a trillion dollars on imported oil? I sure don’t, particularly with our economy in the shape it is today. Yet that’s how much we spent in 2008. And if we keep buying more and more foreign oil, we’ll spend an estimated $2 trillion a year by 2020.

Does this make sense to you? It sure doesn’t make sense to me, especially when we have so much domestic energy right here that we’re not tapping into.

Just last week, both the New York Times and the Wall Street Journal did stories on a new government study that shows that our nation’s estimated natural gas reserves have shot up by 35 percent just in the last year and 58 percent in the past four years.

Huffington Post