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T. Boone Pickens, chairman & CEO of BP Capital, on the price the U.S. pays to protect the Strait of Hormuz, and the amount of oil the country rece...
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Producing oil and energy here now is T.
Boone Pickens -- -- keep BP capital he is joining us for an exclusive interview -- it is wonderful to see you thanks for coming on the show.
Thanks -- of -- Q do you think this is money well spent.
No I don't.
Very much against it.
That 85% of -- all goes to Asia we only get two and a half million barrels today out of out of the Persian gulf.
I don't see why we did if -- and somebody else.
Pick up the -- and we -- your resources in America we don't we actually don't you may have to have the two and a half million barrels that comes out of the saudis and cutter.
But I -- you sell us any does that do that oil is fungible so it doesn't really matter if that oil is going directly to us it may be going to Asia and that's displacing other oil that's coming to us -- doesn't really matter exactly who it's going to it's going the world market and where part of that.
Well -- having said that why do we -- -- and we spent now in Iraq and Afghanistan.
We spent 1000000000500 billion dollars and we've had.
Over we've had over 30000 casualties.
And the people -- there hate us.
I don't understand it because we have -- your resources in America.
To offset they all from layers so it's.
Make a huge difference.
And what what we did it.
-- what I want is to give us options.
To change things if they're not working.
And we've been doing this a long time it's cost -- a lot of money and it's cost a lot of lives.
But part of the reason why -- there is it's to -- and also stop.
Iran from you don't overrunning the whole region him from getting nuclear weapon I mean it passenger with oil but it also has to do wit.
Keeping them from dominating the region do you think that that's a worthwhile -- Well it tonight is that sure I know we've got friends there the Israelis are friends of ours at all.
But I somehow you know other people or are getting you know we said 85 -- going to Asia.
And it's just to me it's just it is somehow just -- look very Smart.
We keep doing the same thing over and over again -- worry we expect.
Different results and we still has same result we have spend a lot of money -- people killed and when we leave their body -- -- Yeah out I have to give you credit I've known you for a long time it was many years ago that you sad.
That we need to use natural gas for transportation that we have abundant natural gas in this country -- at the time.
I thought it sounded kind of wacky now -- time has gone by and we have this fracking room.
-- the price of natural gas has plummeted if everyone had listened to you we would be using this cheap natural gas for transportation.
Are you frustrated is that still a possibility.
And have we gotten off track with other forms of transportation fuels.
You know especially but we will we talk about biofuels.
Well it's it's interesting to David Katz -- any duty trucking is going to natural gas because -- two dollars a gallon cheaper.
And it will happen say we did this in 1972.
When went from gasoline to diesel.
It took five years to make that change you're in you're going that is same.
Dynamics again.
Now -- gonna go to alternative fuel which is natural gas it's cleaner about 30% its domestic.
And it it's it savior it would it.
Two thirds of our trade deficit is a purchase of foreign all and we need to have a North American -- -- alliance.
Which should be Canada and Mexico and United States.
Work with those people and and the Keystone Pipeline.
And but amazingly.
In this whole thing is that we've never had an energy plan in America.
You are right and I don't know energy plane you're right about all of that that's a great set -- because we have the CEO of trans -- coming up Boone Pickens.
Thank you so much for coming on -- show tonight we really appreciate your time.
Sure.
TransCanada submits a new round for the keystone.
