Energy industry moving back to United States

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Energy industry moving back to United States


Brian Bradshaw:
I think today we were gonna talk about the ongoing energy renaissance here in United States.


T. Boone Pickens:           

It is a renaissance in this country. I've been in the industry so long that I've seen all the ups and downs for the last 60 years. 

We got to the 70's and oil embargoes imposed on us by OPEC countries. We really truly believed we were in the grips of a declining oil production United States. We got down to under, in barrels, four and a half I believe. And we had produced the 1970s, 10 million barrels a day.

So here we were. OPEC countries had the oil. We were declining. And what were we gonna do about it? We moved in to the Middle East. Our fifth fleet has been there for years and years and we have protected oil.

And the way it's turned out, the renaissance in America is that our industry did a fabulous job of finding, developing oil and gas in the United States.

So now, we found ourselves the only country in the world that is increasing reserve and daily production is going up for us as most the rest of the world is declining.


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Brian Bradshaw: 

And so what does that translate into for the American public?

T. Boone Pickens:           

As you go forward, I don't see some run up in gasoline prices. Nor do I see a big decline.

It's a pretty stable, sustainable market is what you're looking at to the consumer for gasoline.

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