Pickens: U.S. spent $31B on foreign oil in April (Dallas)
America needs to wean itself off foreign oil, but instead, the situation is worsening, says Dallas billionaire T. Boone Pickens, who released a report Monday that shows the United States sent $31 billion to other countries in April for oil.
“That’s more than $1 billion dollars a day and a sad step in the wrong direction,” Pickens said. "As the economy recovers, demand and prices will continue to increase."
Pickens reiterated his support for bipartisan legislation – House Bill 1835 and Senate Bill 1408 – both of which would expand natural gas use in the United States. He also noted that The American Power Act has been put on the table. The act focuses on replacing the nation's dependence on foreign oil with domestic natural gas production, especially when fueling large transportation fleets.
"Instead of enriching other countries, we need to get off OPEC oil and make better use of our own abundant supply of natural gas," Pickens said.
Read the full post in the Dallas Business Journal.
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