T. Boone Pickens Says Less Dependence On Middle East Oil
Jill Burcum, Star Tribune
Feb. 03, 2011
The United States has put energy policy on the backburner during the Great Recession.
With unrest boiling over in Egypt, legendary financier and oil man T. Boone Pickens is pointing out just how shortsighted that it is.
Pickens offers a fresh and chilling take on the historic protests sweeping across the Arab world. He has long argued against U.S. dependence on Middle East oil.
In interviews this week, and on his Pickens Plan website, he is pointing out that instability in this region threatens the American oil supply.
“You’re seeing a dry run of sorts with unrest in countries like Tunisia and Egypt that are not big on the oil market,” Pickens said in an interview with Politico’s Darren Goode.
“And you better watch close because the next one may be Algeria or Libya or God forbid Saudi Arabia. And if that happens, you’re really going to have a mess on your hands.”
Saudi Arabia was America’s third largest source for imported crude oil in 2010, according to the U.S. Energy Information Administration. Canada and Mexico were the top two.
Other countries rounding out the top 10 are Venezuela, Nigeria, Colombia, Algeria, Iraq, Angola and Ecuador.
Pickens has a financial stake in all this. He has made massive investments in wind energy, so his Pickens Plan for cutting imported oil needs is self-serving.
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