T. Boone Pickens: We Should Embrace Natural Gas

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Oct. 24 (Bloomberg) -- BP Capital Chairman and CEO T. Boone Pickens gives his take on natural gas and America’s energy future. He speaks with Trish Regan and Adam Johnson on Bloomberg Television's "Street Smart." (Source: Bloomberg)

What you have about the argument about the power of natural gas?

The ability to create torque in 18 meter -- 18 -- engines?

Natural gas comes out of the ground.

It does not need a refinery.

The environmentalists will jump on it.

They will love it.

No refinery three simple separator.

Then for a pipeline.

It is pipeline gas ready to be used.

It is a high-end of the hydrocarbon chain.

We haven't really had -- we haven't really understood the field.

We have embraced it like we should have done.

30% cleaner.

Heavy talk to the president about this?

He called me this afternoon.

[laughter] i know you gone to the white house.

I've gone to the white house several times.

I have talked to the president wants.

He was in august of 2008. we had an hour and a half conversation on energy.

I haven't talked to him again.

I must not have made a good impression.

You have made an impression on people like fred smith of fedex, who was to convert his fleets.

See -- he he likes the battery for light duty.

I have no problem with it.

Electric for light duty.

Oh yes.

You get the environmentalists.

I've got a good record on that.

They talk about getting on wins and solar, and cutting down opec.

They're not transportation fuels.

70% of all the vehicles of oil is used for vehicle transportation.

That is the key.



We have to replace.

It is always going on.

The tipping point has come.

Cummings has supplied the new engine.

It is going to be the missing link.

And natural gas capable engine?

Exactly right.

That is what you do.

You don't lose any torque.

As we talk about natural gas and the more use of it in the future, what is this meaningful oil prices?

You look at oil now.

We're under $100. we are importing.

A million barrels a day in the united states.

There is plenty of room from eric and oil to replace imported oil.

$4.5 million come from opec.

That is what i want to cut out.

Opec oil.

There is plenty of room for our oil and at -- and our natural gas.

I don't see the cost of drilling these wells -- it is expensive.

You are talking about wells from $5 million to $50 million.

You're going to have to have $80 oil.

When it drops below that, with aidan -- you will see some of those rigs shut down.

We're 97 now on crude.

If he had to give me a prediction?

This text has been automatically generated. It may not be 100% accurate.


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