T. Boone Pickens to track U.S oil import

"Our kids are falling behind while our enemies get richer",
said T. Boone Pickens. (AP Photo/Sue Ogrocki)

T. Boone Pickens is launching a program that will track the monthly amount of foreign oil imported by the United States.

At a press conference in Washington D.C yesterday Mr. Pickens said:

 “The events of recent days in the Middle East, the comment of the Iranian leadership threatening an oil embargo to any country supporting Israel, the actions of the Russians to control the supply of natural gas and the OPEC’s decision to cut production should be a major reminder that when we import oil from these nations we do not control our destiny and are vulnerable”.

He is not the only one worrying. Amid the quarrel between Russia’s Gazprom and Ukraine’s Naftogaz the European Union now calls for a massive reduction in oil demand, seeking to reduce the oil use by more than 50% by 2050. Oil is the most important fuel in the EU energy mix.

In 2008 the United States spent around $475 billion on oil, importing approximately 66.5% of its oil consumption.

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For more information: go to www.pickensplan.com/oilimports