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T. Boone Pickens Speaks Out On America's Energy Crisis

Jul 23, 2008
T. Boone Pickens is a legendary Oil man and investor who reached the billionaire stage long ago. Pickens knows a thing or two about oil drilling and America's dependence upon foreign oil.

In a recent interview with CNN's Lou Dobbs, Pickens had this to say about the sad state of America's current energy position.

"The problem is unbelievable for this country. We are in a crisis mode and let me give it to you right quick. We're spending $700 billion a year on foreign oil, $700 billion. We're going to break the country in less than 10 years and we're now importing almost 70 percent of all the oil we use.

1991 it was 42 percent. And I said then, we're going to be 60 percent at the end of the century. We were at 60 percent -- I was told I was a fool. I didn't know what I was talking about. I can tell you now, you're almost 70 and you're going to be importing in 10 years from now. So we've got to do something about it and we can, Lou. The solution for it is natural gas. Natural gas can replace foreign oil.

There are 8 million vehicles around the world on natural gas and only 142,000 of them are in the United States. Can you believe, I mean, with our leadership, did not take us in the right direction. But not trying to place blame, it's really our problem. Yours, mine, and the rest of the people in America."

T. Boone Picken's reference to poor leadership in the US is critical to understanding how the US has and still is falling behind the rest of the developed and developing world in energy management, infrastructure, technology, health care, and other issues that are vital to the progress of a nation.

It seems like our leaders have spent most of their time developing a military machine rather than attending to the needs of American citizens at home. American military adventurism is not the way to build a strong economy as resources are misallocated to the military sector. For example, the US Department of Defense is by far the largest consumer of gasoline and diesel fuel of any single sector in the US economy.

T. Boone Pickens is one of a very few American business leaders who are speaking out on the energy issue. And as for American politicians they are still in the self congratulatory mode of telling everyone how America leads the world in every category of technology and innovation. That may have been true ten years ago but no longer. When you are sending 700 billion Dollars a year overseas each year bad things are sure to happen to you. As T. Boone Pickens knows living in the past is not going to solve America's energy problems.

America desperately needs leadership who will first of all admit that a serious problem exists and who will take massive steps to mobilize and organize the resources needed to reduce if not eliminate the dependency of America upon foreign oil.
About the Author
Learn more about the coming energy crisis and its consequences for the way we will live and work at Crude Oil Crisis
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