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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 443.45+1.4%Jan 21 4:00 PM EST
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To: energyplay who wrote (36662)7/27/2008 1:58:32 PM
From: elmatador  Read Replies (1) of 219607
 
"I only have one enemy, and that's foreign oil," he said. "That's what I want to get rid of. My plan will reduce our dependency on foreign oil by 38 percent."

T. Boone Pickens is calling on the U.S. government to take steps to reduce the nation's dependence on foreign oil. He is promoting an energy plan that features wind and natural gas - a proposal he discussed with lawmakers at a congressional hearing Tuesday.

...
But Gal Luft, executive director of the Institute for the Analysis of Global Security, took issue with Pickens' support of natural gas as an alternative to gasoline for transportation.

He told the committee that 63 percent of the world's natural gas reserves are under the control of Russia, Iran, Qatar, Saudi Arabia, and the United Arab Emirates, and that these countries are working to establish a natural gas cartel that will rival the Organization of the Petroleum Exporting Countries, or OPEC.

"This is a spectacularly bad idea for us to shift our transportation sector from one resource that we don't have to another that we don't have," said Luft. "So we don't want to give at this point in time a gift to Iran."

Luft advocates using alcohol-based fuels instead, such as ethanol and methanol - which can be made from agricultural waste, coal and industrial trash.
voanews.com
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