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T Boone Pickens for President



T. Boone Pickens
T. Boone PickensInfluencer
Founder, Chairman and CEO at BP Capital and TBP Investments Management
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Big Idea 2015: End Our Dangerous Addiction to OPEC Oil, Once and For All
Dec 17, 2014 1,393Views 61Likes 19CommentsShare on LinkedInShare on FacebookShare on Google PlusShare on Twitter
In this series of posts, Influencers and members predict the ideas and trends that will shape 2015. Read all the stories here and write your own (please include the hashtag #BigIdeas2015 in the body of your post).

I've worked in the domestic oil and gas business for well over half a century. Yes, I've made billions of dollars investing in energy, and I’ve lost billions, too. I’ve worked in a refinery. I’ve roughnecked on a rig. I’ve seen the energy business from the inside out. Or at least I thought I had. I’ve never seen anything like what has happened to America’s oil and gas production over the last decade. None of us has.

Starting in 1970, U.S. oil and gas production was on the decline. Now, thanks to technological advances, America has become the world’s leading producer of oil and natural gas. And the amount of oil we’re importing from OPEC? It’s been cut in half.

My big idea for 2015?

Let’s cut OPEC out of the picture completely. Let’s end our dependence on Middle Eastern oil. Let’s stop the largest transfer of wealth in history by getting on our own resources and relying on allies like Canada and Mexico, not enemies like OPEC.

And we can end this dangerous addiction right now. OPEC is in disarray. Big producers such as Saudi Arabia are at odds with smaller ones such as Venezuela. U.S. production numbers continue to climb. And the availability of alternative fuels for transportation such as natural gas continues to gain favor, thanks to cost-conscious companies with large fleets like AT&T, FedEx, and UPS.

Why would anyone be against this idea? Ending our dependence on OPEC would keep our dollars here at home, strengthen our economy, bolster our balance of trade, and create thousands of jobs for Americans.

I can understand why OPEC is against this. The members of that cartel love getting billions of dollars from us every month. Guess who funds their social programs? We do. Guess who builds their infrastructure? We do. Guess who is paying for both sides on the War Against Terrorism? You and me!

All it would take to end our dangerous addiction to OPEC oil would be to get America the energy plan it deserves. It’s that simple. Let’s finish OPEC off.