Pickens and Ted Turner (who makes money off of natural gas drilling) write in today’s WSJ:
Renewable energy and clean-burning natural gas are the basis of a new strategy the world needs to create a cleaner and more secure future. And the global transformation to a clean-energy economy may be the greatest economic opportunity of the 21st century. According to the authoritative Potential Gas Committee (administered by the Colorado School of Mines), the U.S. sits on top of massive reservoirs of natural gas — an estimated 2,000 trillion cubic feet — that contain more energy than all the oil in Saudi Arabia.
Harnessing this large supply — plus developing wind, solar and biofuel energy sources — is essential to achieve three strategic national priorities:
• Energy security: The internal combustion engine makes us dependent on oil that’s concentrated in a handful of countries in some of the world’s most volatile regions. In June, we imported 374 million barrels of oil, nearly two-thirds of what we used, at a cost of $24.7 billion. With 70% of imported oil going into cars and trucks, our transportation system is perilously at risk to shaky oil markets and even shakier regimes.
• Economic security: Last year more than $155 billion was invested in clean energy technologies such as wind and solar, and China and India plan to invest hundreds of billions in renewable energy sources. The annual market for clean energy may escalate in the next decade to between $1 trillion and $2 trillion. The race is on.
• Climate security: Likewise, the clock is ticking on potentially devastating climate changes. We already are witnessing the disintegration of polar ice, melting glaciers, rising sea levels and altered weather patterns. But if we act now, we can prevent catastrophic human and economic impacts.
The rest here.