Wednesday, 11 April 2012

T. Boone Pickens: 'I've Lost My A--' in Wind Power - 'The Jobs Are in the Oil and Gas Industry'

Business magnate and financier T. Boone Pickens knows what what he is speaking about:
'I've Lost My A--' in Wind Power - 'The Jobs Are in the Oil and Gas Industry'

This is the kind of realism that is needed, both in the US and the rest of the world (particularly in Europe):

Pickens continued, “You know that wind and solar are not going to move an eighteen-wheeler.”
With this in mind, Barnicle asked about so-called “green jobs” in America. “Are there jobs in this?”

“Sure,” answered Pickens, “if you go out and subsidize some of these things to develop them – yeah, you get jobs out of, of course. The jobs are in the oil and gas industry in the United States. I mean, that’s where it is. You have an industry that is superb in comparison of oil companies around the world. They are the best.”
Pickens continued, “They found the oil the cheapest, they found the gas the cheapest for you and all, and you have somebody saying, ‘Hey, they’re not paying their fair share, and they make too much money, they need to be taxed more.’ Hey, they’ve gone out and done exactly what you wanted. They got jobs for you, they got the oil and gas cheaper for you. The problem is nobody understands energy in America. If they understood energy, they would know that, hey, something good is happening here.”

Co-host Mika Brzezinski said that domestic oil production is up, and asked her guest what the Obama administration has done that is good concerning energy.
“Well, they don’t have an energy policy," answered Pickens. Brzezinski followed by asking if Obama has done anything to increase oil production. He replied, “It has nothing to do with the administration…We’ve gotten someplace, but it’s because of technology advanced by the industry.”
“What’s getting ready to happen to you,” offered Pickens, “the horizontal drilling and the multiple frack zones in it, that’s all going, it’s going to be exported away from America. Is that bad? No, it’s not bad. It’s an industry developed here, share with other people, develop reserves.”
“Let me tell you,” Pickens continued, “you are looking at a fundamental change in energy globally is what you have. The OPEC nations are going to have the power taken away from them that they’ve enjoyed for the last twenty years.”

Read the entire article here

Pickens could have added that Russia´s de facto dictator Putin also will have his power taken away from him, thanks to the American led shale gas revolution.

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