Photo: T. Boone
T. Boone Pickens’ efforts to get a natural gas subsidies bill was dealt a major setback in March, when the NATGAS Act was defeated in the Senate.But the BP Capital Management head and energy tycoon is showing no sign of retreat.
In an appearance at this week’s Milken Institute Global Conference in Los Angeles, Pickens reiterated his argument that boosting natural gas use is a question of national security.
“When you turn natural gas down, you pick OPEC,” he reportedly said, according to SmartBlog’s James daSilva.
DaSilva says that was apparently a reference to some representatives who opposed the bill on the grounds it would pick winners and losers.
“I’m trying to get off OPEC oil,” daSilva says Pickens continued. “I’ve got a national security angle to this thing. … If I get off OPEC oil, I get off getting our people killed. I want out of Afghanistan, I want out of Iraq, I want the hell out of the Middle East.”
Of course, part of his argument is self interested.
According to BP Capital’s most recent filing, he continues to hold major stakes in large natural gas players, including embattled Chesapeake Energy.
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