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BP Capital CEO T. Boone Pickens on the lack of a strong U.S. energy plan, especially one that relies on the energy resources available in America.
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And got a chance to sit down with Boone Pickens to discuss -- deal calls along with -- future of energy in America.
Boone Pickens good to see -- thanks for coming in -- -- Delta Airlines today announcing that they're gonna be buying refinery.
From Phillips 66 about a 150 million dollars is gonna cost -- -- the Philadelphia area.
And they hope eventually save about 300 million dollars a year.
Because they'll be able refiner -- jet fuel is that a good idea well you knew about it I was -- radio announced -- about an airline.
Also tit for tat.
I don't OK ladies gentlemen joking day I didn't get it first but it -- delft.
Purchase.
ConocoPhillips refinery.
We'll see.
I'm not convinced that -- -- -- Smart guys at delta air and they don't think though they're running around like 200.
Pound boxes of -- so they're not.
Out there just.
You know throwing money away but it does show you how there is this move now by companies to try to integrate.
Energy production within their own facilities -- -- rely heavily on energy.
Well if you look at it is you know when you look at their expenses the biggest experience on there will be fuel.
Any keep fluctuating your biggest single I think its like 3540%.
Yeah and it and it's the tree in his yes and so they can they can -- -- jet fuel.
Is going to be higher not lower -- -- -- that well okay let's do something.
To stop this and they've done something we'll see if -- -- now -- off film does this fit into your.
You're you're promoting natural gas so much because.
A lot of people think that we have to move away from these big energy companies.
Two companies that deal with -- energy themselves and natural gas perhaps you have your own natural gas energy unit in your factory.
-- to produce your own and if you set the wave of the future are I don't know we've just seen one deal.
I haven't seen where years is what we call that is manufacturing company.
That owns their own production the physical.
They they have it in -- -- I haven't seen a move to the -- and that natural gas is so cheap there's no reason to do that.
How much you -- have we seen.
The ability of the American going to be take advantage of the cheap natural gas because it you obviously your and it ended trucks and the conversion trucks and so forth but.
Conversion of entire coal plants for example to natural gas or or real oil plants to natural gas automation -- more that.
Any coal fired.
Power generation.
Now -- -- Coal fired.
If they can switch fuels they would have to natural gas.
But if for some reason they're phasing out -- plane because of -- usually what what causes -- -- phase out coal fired.
It will be replaced with -- intraday all that these huge move.
Financial gains will natural gas become.
The energy source of the future for the United States -- they'll be a much bigger factor is today what would Boone Pickens energy plan B get on your own resources.
Get on your own resource in America yet when your resources.
Get on your resource understand your portfolio of assets and applaud him in the best way.
And that hasn't even been approached talked about.
Are discussed in -- nobody in Washington nobody running for president now that that takes that approach.
Well everyone I'm say they're gonna have an energy plan but we haven't heard -- the energy plan it now so Romney's got to come up with a new energy plan here.
Pretty soon.
Do you think that Romney would be more amenable to your energy plan and President Obama only has he wrote a book -- chapter on the energy and you get a pretty good feel yeah he.
He wants to get on our own resources today.
But I haven't seen where he stood up for.
A crowded said this is my flight.
You know clue -- the plane comedic genius with -- -- My dad told me that one time he sits -- I'm afraid I've got a -- -- no point.
So I mean we're starting to look -- -- -- no plan in Washington.
Let's leave it would have fatherly -- -- Boone Pickens thank you so much good to see it.
