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Pickens on Value of Natural Gas

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  • Description

    BP Capital Founder Boone Pickens weighs in on U.S. energy problems.

  • Duration 4:31
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-- energy policy one of the most divisive issues in the US.

But is there a quick fix to the dilemma David -- is live for the Milken conference -- -- energy industry Mobil BP capital founder Boone Pickens David.

Our problem by the -- the answered questions yes there is that there is effects then and we are have an abundant supply and of course of talk about natural gas.

-- Vegas has been in a natural gas for a long time -- seen the value of it.

Even before we Begin always fracking process that has made -- so cheap and abundant.

Bob -- great to see you thank you for coming and I appreciate it well it's cheaper than dirt right -- YouTube frankly -- being given away natural gas.

Is the president the president of the United States taking advantage of this this gives us a tremendous advantage world larger -- we get on our own resource and get off all the way.

Are we take -- we significantly taking advantage of this cheap resource that we have when oil was so high.

It it is moving that direction that we -- get help in Washington we have -- house.

Always he would need to.

That you need to pass.

In and out.

Is it.

You know try to put it on another bill we -- -- the other day we won -- 5146.

Natural gas act -- describe what the natural gas sector did actually would do focuses on -- hate me and eighteen -- That's all they're 250 million vehicles in the United States 8000018.

Wheeler -- all want.

That is three million barrels a day.

By the -- you you did get a majorities are -- in the senate but not this not to sixty majority needed to pass out ahead of sixty instead of 51.

Washington's only place where 51 won't be forties and it it.

Yeah that makes -- -- -- -- whole -- -- they do get makes things right but they.

Is the president courses is focusing still on saying he's -- for drilling as much as we can.

But then the EPA comes -- -- new edicts making it more difficult for drillers to get that program exactly -- the president when he.

Check denomination.

-- I'll go away from him in Denver he said in ten years we will not import any -- from the mideast.

We've never seen a plane and he's never virginity thing and -- and so I don't think he has -- While natural gas is now so cheap some people are worried that there may be supply destruction that is a lot of drillers and say -- just.

It's too cheap for me to make a profit at a summit closed as well is that beginning to happen at all -- it is -- you know sure did -- a lot of rigs have gone off of dry gas wells.

And -- switched over to -- oil and gas -- -- liquid country so we have the six extraordinary opportunity to take advantage of all this cheap gas by.

By ringing up trucks and and cars and god knows what else with the natural gas and we may lose that opportunity because he's wells are shutting down.

Know what you you're gonna we've got -- actually this thing shut the -- down but they're.

We have funny and that's why some cheap.

We're over we've got we've been so good the -- done such a good job.

Finding and developing natural gas but they're doing the same thing on all we have the highest all production.

Today than we've had in forty years in the United States so -- industry has done an outstanding job.

Now the president says we got to make this the last question is -- going to be a rapid the president says that we only have 2%.

Of the world's reserves.

Of oil and therefore we could drill like crazy for shale oil and perhaps natural gas and everything else in the -- and we still wouldn't make a cut.

In the amount of -- that we have to import well through.

On energy and energy alone that.

We are very near the top and I'm including coal natural gas oil.

The whole thing.

That we have plains energy in America the president.

Is being misinformed or not informed -- life.

One thing he said the other day that the Department of Energy develop the cracking -- the -- thirty years ago true.

Well I got -- -- 51 how witness my first -- job and 53.

And he said it was thirty years ago that the department vision and I don't know I don't know where that number came from but I have.

Tracked over 3000 -- And I've never had a failure on -- well.

They're been over 800000 wells friend I would she would talk about some of those things.

Instead I don't know where that other -- or Richard -- use energy secretary a way to manage -- care for the fifth fifth a good -- okay thank you so much you appreciate.

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