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BP Capital CEO T. Boone Pickens explains why Romney will be better for foreign policy and energy in America.
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So President Obama and governor Romney will be duking it out over their foreign policy in tonight's debate if you're wondering how directly impacts you.
Some how much you paid the last time -- filled up your tank.
So which candidate is better for your wallet when it comes to energy here to weigh in -- -- this -- -- energy tycoon -- chairman and CEO BP capital management.
-- just a legend in general.
Ben thank you so much for coming nine we always appreciate your time to let's get right to -- whose foreign policy do you think translates to lower energy prices.
Well foreign policy is as you know is an energy policy combined.
Because you're getting.
All from OPEC -- half million barrels -- so which one of the candidates.
Obama has got it right that we have a lot of natural gas in American we should use it.
But he talks about it but he never comes up with a policy he never has appliance.
-- look over Romney he says that you know we have played natural gas we have other resources he says we have more all -- And we're heading to our all production greater than any other country in the -- -- right now.
So our industry has done a fabulous job for America.
So what does that mean -- Romney's got a -- -- page client.
And it's a good plane and it will work what.
He -- what is -- what is it now because I think most of our viewers probably haven't read the -- -- he -- pages.
Of governor Romney's energy plant in -- some nuggets in their what you think there are good policies.
All he's he's very clear he I he's not talk about legislation.
He's talking about leadership.
-- saw what he intends to do is help build in my hand for natural gas in America.
Which is good we don't -- -- exported but we will export I'm not against exporting.
What I am for is increased demand so here that you if he brought it down -- you know the bottom line.
He says get on your own resources.
Well you -- look at the countries around the world that are on their own resources.
They're doing very very well.
-- and the United States has that opportunity.
At this point.
Leadership from Washington -- take -- in the direction of your own resources and you've got -- resource.
And I think you're probably -- -- understands the industry.
He does an.
Now -- -- sitting in a situation where we have a glut of natural gas.
You know we've started fracking for -- it's eight all over the country almost to the point where it's a problem because natural gas price prices have plummeted.
Making producer is less anxious to go out there and drill for -- you're one of them.
What do you think that we could do.
To move to ward -- we have more natural gas for transportation we can use -- this supply and become more energy independent from the Middle East.
Well taking advantage.
About -- spot natural gas.
How do you do -- there may be -- in eighteen wheelers.
And the price of -- as I've dedicated and natural gas fueling station for Apache.
In Lafayette Louisiana last week and right across the street.
The -- the diesel is 379.
On the pump at the Apache station was 1789.
Two dollars.
That -- you don't have to have legislation that -- his staff and but what you gonna do it now what -- it mean if you have eight million vehicles you remember their 250 million vehicles in America.
Saw one is a Canadian if we took goes over to natural gas pay -- from diesel.
That would be three million barrels of that.
Well how much should we import from OPEC four and a half million so you could -- with eight million vehicles than you can do this -- five years.
That if if -- it if you did if you weren't they may be if you'd cut OPEC -- 75%.
Now if you think it's a free market -- all your kid yourself OPEC sets surprise for all up.
It's that simple way did you in the global market they do now they're two different process for all global prize -- North -- -- Is about fifteen or twenty dollars a barrel higher today and west Texas intermediate which is a crude we have in America.
So that's why we have the cheapest fuel in the world cheap oil cheap gasoline and cheaper natural gas.
Let me so I usually it is fixed asked -- an economic reform recovery yet -- let me bring it -- election because there is you know so -- natural that's we've now seen this I mean we've seen that we can get added.
It is possible to use it for transportation this does seem like it would be good idea down the -- when I talk to people in the industry they are worried though that there is a new war coming.
On fracking.
Are you concerned that a President Obama is reelected.
That you know you could face this challenge going forward that just when we see the tide turning to use our own natural gas that he would not be.
Pro fracking in pro natural gas.
I think that the likely that because.
Obama -- he keeps on my green jobs and he's talking about wind and solar -- wind to solar do not replace diesel.
Our oil that's not what they they provide it does it work you will it's expediency but he is not pro industry.
He talks about the industry -- -- much money and things like that they industries providing the cheapest energy in America in the world.
OK so yes I think Romney sees a picture black it is it's a big picture energy is a big part of our economy.
And I think Romney understands.
OK Ben thank you so much for coming -- we always a --
