Boone Pickens on Whether or Not Now Is the Time to Bet on Natural Gas
Here is legendary oil man Boone Pickens on a few subjects:
- The only country in the world that doesn’t have an energy plan.
- 70% of fuel used goes towards transportation.
- Has never seen any planning in Washington over whether there will be enough fuel 10 years from now.
- The greatest transfer of wealth in history has been the United States giving trillions to OPEC.
- We are absolute fools if we don’t get on our own resources.
- Solyndra was a loser before it started.
- Natural gas is the margin fuel for power generation, that puts wind power out of business. Pickens has lost $150 million on his investment in wind power.
- Natural gas is at a 10-year low, but Pickens isn’t ready to load up on it as he expects it to stay there for some time.
- He has fracked over 3,000 wells personally and has never had a problem. He knows that once the process is thoroughly investigated people will realize that it can be performed safely.