T. Boone Pickens: "I'm on U.S. Natural Gas, Not on OPEC"
House Introduces Tax Credits for Natural Gas
T. Boone Pickens — the oilman turned natural gas advocate — is claiming a victory in the fight to reduce America's dependence on foreign oil.
The NAT GAS Act, (H.R. 1380), a Pickens pet project, would provide manufacturers and buyers of natural-gas powered vehicles with large tax credits. The bill has been introduced into the house this week with broad bipartisan support.
"You have now tossed your hat in the ring...this will be the first step to put us at the big table for energy," Pickens told earth2tech.
The bill specifically focuses on powering the nation's big rigs with natural gas. They are the biggest users of diesel fuel, so Pickens feels that is the best place to start the tax credits.
According to Pickens 280,000 rigs will be built next year, 20% of which will be natural gas powered.
"The patriotic part of this argument is going to get very big. You're gonna see 18 wheelers going down the highway that are gonna advertise on the side: 'I'm on U.S. Natural Gas, Not on OPEC'. You're gonna want that on your equipment," he mused.
Catch his entire interview below: