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Permalink Reply by Krkyoldhag on September 15, 2011 at 2:37

Hope you don't mind..I kind of "edited" this post to make it easier to read.

Wed 14 Sep 11 | 02:33 PM ET

(Sorry about the transcript - it came this way with no paragraphs or labels of who is speaking.  the video is easier to follow)

treasury secretary tim geithner dealt a wide range of issues at the delivering alpha conference in new york

. he also talked about energy. to make this country energy independent with the possibility of cleaner skies and make it right here, right now because that's working instead of trying to cut the allowances that you're doing for oil and gas, which will cut back the one industry that's putting people to work in this country.

i don't think there's much risk in that. it may be merit in your thing to. the basic thing people learn today is you have to keep atd it. you have to keep at it.

you say we're going to continue to do whatever we think will help get people back to work and make the economy strong in the short-term.

what does that even mean?

secretary geithner dodging his question about energy policy.

why does d.c. continuely avoid addressing our need for a concrete energy plan?

joining us now by phone is a man with a plan. boone pickens.

your heard tim geithner's answer.

i think you have it right.

he dodged the answer

. yeah. he said we're open to anything. do you think the administration is really open to anything?

well, it doesn't appear to be because this is something that to me is so clear is that this is jobs all over.

on our study and what we gave to the administration was that 2012 to '16 you have 300,000 indirect and take it out ten years and look at every one of the things that come out of the department of energy,

they take them out to 2025, 2035 or whatever. i'm talking about 2021 you've got 330,000 direct and one million indirect.

those, boone, are those new jobs that you guys say based on your numbers that you can create if we do part of the plan you're looking to do?

that's right. but you've got to go after the problem directly, which is the import of oil from the mideast. and that's exactly what the president said when he got the nomination speech   in ten years we will not import any oil from the mideast.

that's exactly what i'm doing. i'm attacking on the very front that he wants to reduce depend si

. right. but the problem is, boone, to your point, eight presidents have pledged to solve this problem to reduce our energy dependency and no one has been able to successfully do it.

does that suggest it cannot be done?

the only way you can reduce dependency is to go at it with your own resources.

and here you have over a hundred year supply of natural gas. and natural gas, one mcf of natural gas costs $4.

it replaces $7 of foreign diesel which is $25.

it's the most insane thing i've ever seen.

easy to understand

. you're getting ready to replace with your own resource a more expensive dirty commodity from the mideast.

boone, this is herb greenberg. you make it sound so sensible.

let's go full circle. if it's so sensible, why not?

why isn't it happening?

what's the problem here, boone

? well, i have to think that somebody in the administration is they don't want to use the natural gas. even though it's 30% cleaner than oil. why not? why do you suspect they wouldn't want to use it? they don't like fossil fuels. they do not understand energy well enough to know that you cannot run an 18-wleeler with a battery. it won't work. so they want to go -- they see it in the purest form is renewables. there's nothing wrong with renewables. they're a form of energy and they will work. but you can't, off of wind and solar, you can't run these vehicles. 70% of all the oil used in the world every day is transportation fuel.

boone, we've had three solar companies file for bankruptcy in the last month or so

. no question the energy needed in this country is going to go up.

maybe it's going to come from natural gas, maybe it's not

. but i want to ask you this, the president says we need to tax oil companies more

. your plan as i'm looking at it and thanks for sending it by the way, says you can raise more money from oil and gas if you just let them do what they want rather than raising taxes that are currently on the companies.

well, if you want to do it the fastest way possible is the administration has to get behind it. and the way they've approached it is we're going to get our own resources

. they don't have to say it's a natural gas. just get on our own resources.

and pass that natural gas act. that's the thing to do.

and that then shows direction and leadership. i mean, it isn't -- you've got to put some money on the table.

it's a billion dollars a year is what it is for five years. and then -- you feel if the administration follows your plan that we will create these jobs 500,000 hopefully annually, but how likely, how realistically -- how realistic do you think that is they would do that? i

don't know. but it isn't a plan.

they can have me sit down and say, okay, this is what we don't like about your plan everything else.

fine. we can find out what it is you don't like about going to cleaner cheaper abundant domestic resource.

hey, boone -- if you aren't for that, then you're for foreign oil

. real quick question. we're doing a hard wrap. i follow your tweets. they sound like you. just tell me one thing, i see you as a dictator dictating the tweets not as a typer. i've been wanting to ask you that for a long time

. you see me as a dictator. no. dictation

. i'm sorry. you may be a dictator, dictation. boone, i can answer the question -- i know where herb's going. well, i can tell you, jim and i were up there in north dakota and we saw it on the ground. they're looking for 31,000 people to go to work in north dakota. and i can tell you that can be multiplied very quickly

. you're talking about three times that's 100,000. i can tell you where you get the other 75,000 people or 70 is you're going to get in pennsylvania, west virginia. you know the jobs are there.

okay. and i have seen boone tweet. but i've got your back, boone. thank you very much for coming on.

URL:http://video.cnbc.com/gallery/?video=3000045633

This transcript is generated by automated closed captioning, has not been edited, and may not be entirely accurate.
©2011 CNBC.com

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Permalink Reply by Skip Peel - Mineral Consultant on September 15, 2011 at 2:50

"The administration" isn't the problem.  The problem is Congress.  Both sides of the isle.

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Permalink Reply by Alamo on September 15, 2011 at 8:34

Jim Mulva, ConocoPhillips CEO announced a national ad campaign extolling the virtues of American natural gas this week.

 

This gives us 2 majors....Exxon Mobil...being the other... that are crowing about natural gas' virtues.

Hopefully, their clout will get the API off their butts and ratchet up the lobbying effort to make CNG powered transportation a reality. With something around 28,000 miles of Interstate highways in the US, strategically locating 3-4000 re-fueling stations could give the trucking industry workable access to fuel facilities. Wal-Mart has something around 2200 stores that could include on-site CNG pumps and the 100 million plus American homes with natural gas access could enable garages around the nation to be over night fueling facilities.

 

When Americans are informed and realize what the actual cost of a gallon of gasoline or diesel is....it was $15.14 in 1998....there's hope that a national transition to CNG will end or at least materially curtail our ruinous addiction to OPEC manipulated crude. We have a vastly superior resource and we ought to utilize it while seeking the ultimate inexhaustible energy solution. Talk about a "Buy American" campaign; this would be it on steroids.

 

Congress and the Obama Administration, are you people paying attention? 

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