Legendary oil tycoon T. Boone Pickens, the founder of BP Capital, says that there’s “no question” that Donald Trump will be a better candidate for energy.
In an interview with Yahoo Finance, Pickens, who’s been supporting Trump since the spring, criticized Democratic candidate Hillary Clinton over her views on fracking. He thinks that she agrees with Sen. Bernie Sanders’ view that fracking should be banned.
“That can’t happen. Let me tell you what would happen to us, for instance. The world uses 95 million barrels of oil a day. Seventy percent of that goes to transportation fuel. If you shut down fracking … They’ve both said they ‘d like to shut down fossil fuels. I’m not here stomping for fossil fuels,” Pickens said. “I’m here to tell you that’s the only thing you have. If you don’t have oil for transportation fuel or natural gas, what will happen to you? Your transportation will stop. And that can’t happen.”
He said that President Barack Obama has “been a complete loser for energy.”
“He has never promoted energy and never pays attention to it that I can see,” Pickens said.
Pickens has called America’s dependence on foreign oil the “greatest threat” to the US. Specifically, Pickens has said that America’s reliance on OPEC-imported oil threatens the country’s economy, environment, and national security.
“We’re a lot better off today than we were five years ago, 10 years ago,” Pickens told Yahoo Finance, pointing out that the US had been importing more than 8 million barrels per day from the Mideast. Now, that number is closer to 1.5 million per day because of lower oil prices.
Pickens sees no reason for the US to use OPEC oil. Instead, he’s for forming a North American Energy Alliance among the US, Mexico, and Canada. The idea is that the US would be the market for Canada’s and Mexico’s oil.
Eight years ago, he kicked off The Pickens Plan, which aims to get the US to reduce its reliance on foreign oil by using natural gas and other American resources. The crux of the plan is to get heavy-duty trucks to switch to natural gas, which is cheaper and emits less carbon dioxide than oil.