T. Boone Pickens Predicts $200 A Barrel Oil
(DENVER) In town for the Democratic convention to promote his "Pickens Plan" for alternative energy, billionaire oilman T. Boone Pickens predicted $200 a barrel oil within three years.
"In two or three years, we're going to be at $200 a barrel—could be $300 a barrel for oil," Pickens said inside the "Big Tent," a complex outside the Pepsi Center set up for bloggers. "And consequently, our economy is going to struggle and our security is just—it's a disaster."
Pickens was joined on stage by Sierra Club president Carl Pope and Center for American Progress president John Podesta, both of whom endorsed The Pickens Plan, although each called for additional proposals.
Pickens said the United States is blessed with "two corridors" that are conducive to alternative energy sources: the "wind corridor" from Texas to Canada and the "solar corridor" from Texas to California. Although Pickens said he agreed with Al Gore that global warming is a major problem, his first priority is to help reverse the tide of sending billions of dollars overseas for America's energy needs.
"I can promise you, if we go ten years without doing anything more than what we've done about our energy plan in America, if we just duplicate the last ten years, it'll be closer to ten trillion dollars," Pickens said. "Well, a sad part about that is if we pay ten trillion dollars for energy from foreign sources in the next ten years, I can tell you we don't have to worry about health care or education. We're not going to have the money to do anything about it."
Pickens said that hundreds of thousands of new jobs could be created in the alternative energy corridors.
"We're not talking about me and my generation," Pickens said. "I can make it to the finish line, and some of you out there I see could too, but there's a lot of you can, but our kids and grandkids can't, and that's what it's about. We have got to change what we're doing on energy. We've gone 40 years with no plan. My dad said, 'A fool with a plan, son, will beat a genius with no plan.' We are like a fool with no plan. We have done nothing."
© 2008 CBS Interactive Inc.. All Rights Reserved. "In two or three years, we're going to be at $200 a barrel—could be $300 a barrel for oil," Pickens said inside the "Big Tent," a complex outside the Pepsi Center set up for bloggers. "And consequently, our economy is going to struggle and our security is just—it's a disaster."
Pickens was joined on stage by Sierra Club president Carl Pope and Center for American Progress president John Podesta, both of whom endorsed The Pickens Plan, although each called for additional proposals.
Pickens said the United States is blessed with "two corridors" that are conducive to alternative energy sources: the "wind corridor" from Texas to Canada and the "solar corridor" from Texas to California. Although Pickens said he agreed with Al Gore that global warming is a major problem, his first priority is to help reverse the tide of sending billions of dollars overseas for America's energy needs.
"I can promise you, if we go ten years without doing anything more than what we've done about our energy plan in America, if we just duplicate the last ten years, it'll be closer to ten trillion dollars," Pickens said. "Well, a sad part about that is if we pay ten trillion dollars for energy from foreign sources in the next ten years, I can tell you we don't have to worry about health care or education. We're not going to have the money to do anything about it."
Pickens said that hundreds of thousands of new jobs could be created in the alternative energy corridors.
"We're not talking about me and my generation," Pickens said. "I can make it to the finish line, and some of you out there I see could too, but there's a lot of you can, but our kids and grandkids can't, and that's what it's about. We have got to change what we're doing on energy. We've gone 40 years with no plan. My dad said, 'A fool with a plan, son, will beat a genius with no plan.' We are like a fool with no plan. We have done nothing."
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Sure demand has risen in the world, but is way down in the US. The price of Oil should be at about $80.00 per barrel which is still too high! But considering the unstable situation with the US occupying Iraq and the constant threat of further military conflict has allowed speculation to reap havoc on the world market price per barrel.
Oil Companies (that aren%u2019t even American any longer but, private multinational corporations with bank accounts in Dubai) are not drilling in already approved leased land to short the American People of supply. Congress needs to first enforce a %u201Cuse it or lose it%u201D bill spur Oil Companies to start producing on fields they%u2019ve been sitting on to assist the drive of the price per barrel.
The United States needs a comprehensive energy strategy that is exactly 180 degrees away from the invisible tax the Republicans have levied upon the American People to divert wealth from the masses to the elite private sector.
sites to share if you should be interested...
www.themanhattanprojectof2009.com
www.howmuchenergydoesmycaruse.com
Oil companies in the US already have access to land that they haven''t started drilling on yet. They just want to use this as excuse to grab more.
And by the way if they get more land it will be 7-10 years before the oil hits the market. It is also unlikely that the oil from offshore drilling will have a significant effect on the price of oil.
Seriously, JoeReed, what is Obama going to fix?
Obama is not interested in Domestic Drilling. Obama is not interested in increasing Refining. Obama is not interested in building additional Nuclear Power Facilities in the US. Obama is not interested in Clean Coal power.
Maybe wind, solar? How much gasoline will that produce in 3 years when we are behind supply/demand wise now?
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Where do you get this insight? The GOP disinformation machine?
You mention Refining...Valero has SHUT DOWN 2 Refineries in the last several months. Why? "They say they will not make gas unless they can make more money on it" Oil is too expensive they say.
This is a Democrats fault?
Obama is not interested in Domestic Drilling. Obama is not interested in increasing Refining. Obama is not interested in building additional Nuclear Power Facilities in the US. Obama is not interested in Clean Coal power.
Maybe wind, solar? How much gasoline will that produce in 3 years when we are behind supply/demand wise now?