Boone Pickens stated that the United States will make a monumental mistake if it doesn't utilize one of its most prevalent energy resources, natural gas. Boone Pickens said:
"You've got 4,000 trillion cubic feet of natural gas—that makes us number one in the world. We're going to be fools, we'll be identified as the dumbest people in the world if we don't capitalize on this resource and replace OPEC oil."
Pickens said one of the most simple ways to introduce natural gas to the automobile business is to make it the primary option for larger transportation vehicles,
"What you do is go after the 8 million 18-wheelers, and when a new 18-wheeler is purchased it will go to domestic fuel, which would be natural gas. If we had those we would cut OPEC in half."
T. Boone Pickens cited AT&T (T) as a company that's using natural gas as the energy source for its automobile fleet.
Related stocks and ETF`s: United States Natural Gas Fund, LP (Public, NYSE:UNG), SandRidge Energy (SD), Chesapeake Energy (CHK), Southwestern Energy Company (NYSE:SWN), Delta Petroleum (DPTR)
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