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Boone Pickens: Cheap Energy Can Drive the US Economy

August 23, 2012 | About:
Dheeraj Grover

Dheeraj Grover

Boone Pickens, BP Capital founder, says the U.S. could build the economy on cheap energy, yet politicians are afraid of talking about energy. "I've almost given up on Congress doing anything," he says.

-- Leadership does not understand and are afraid of talking energy.

-- America has vast Natural Gas reserves and if policy makers want they can drive America's future and economy on policies that will bring energy costs down as well make America energy independent.

-- Simple solution to start with: Get all heavy duty trucks off oil to natural gas. That in itself will save 3mb of oil consumption as the U.S. imports about 4.5 million barrels of oil from OPEC every day.

-- Natural Gas infrastructure is a lot easier to build and will work vs. solar and wind.

-- Natural Gas prices are still depressed and expect them to move to $4 per bcf by the end of the year.

-- Boone has $6 per bcf contracts for 2015.

Here is the video:

About the author:

Dheeraj Grover
I am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne

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