Pickens Encouraged By President Obama’s Call For A More Secure American Energy Future

PICKENS ENCOURAGED BY PRESIDENT OBAMA'S CALL FOR A MORE SECURE AMERICAN ENERGY FUTURE

Dallas, TX - March 30, 2010 - T. Boone Pickens today released the following statement in response to remarks by President Obama at Georgetown University, where he outlined his plan for America's energy security:

"Today the President articulated the national security and economic threats associated with our escalating dependence on foreign oil. With the increasing price of gasoline, natural gas is an important domestic fuel at our disposal that can replace foreign oil to power heavy-duty fleet vehicles. Converting heavy-duty trucks and high-fuel use commercial fleet vehicles to natural gas can reduce our OPEC dependence now while we wait for technology to power the vehicles of tomorrow. It is clear President Obama is committed to weaning America off Middle Eastern oil, securing our own energy future and recognizes the role natural gas can play as a domestic transportation fuel. Recent unrest in the Middle East underscores the need to take action now and I'm encouraged by the President's promise to secure America's energy future and national security by reducing our dependence on OPEC oil."

The Pickens Plan to encourage more heavy duty fleet vehicles to run on domestic resources is included in the NAT GAS Act, which is being prepared for introduction next week in the U.S. House of Representatives by Congressman John Sullivan (R-OK), Congressman Dan Boren (D-OK), Congressman John Larson (D-CT) and Congressman Kevin Brady (R-TX). The pending legislation enjoys broad bipartisan support.