The following is from the March 30, 2011, edition of Fox 4 News. Bernard Weinstein, an economist and associate director of SMU's Maguire Energy Institute, provided expertise for the latter half of this story.
March 31, 2011
DALLAS - During a speech Wednesday, President Barack Obama championed the efforts of Dallas oil billionaire T. Boone Pickens, who is backing an energy plan of his own that puts a lot of emphasis on the use of natural gas in cars and trucks.
Pickens said America has no choice but to steer away from oil because the country cannot sustain a dependence on oil.
There’s not enough oil for the demand and with $4 per gallon gasoline just around the corner, Pickens said one immediate solution is to switch to natural gas.
There are estimates of a nearly 100-year supply of domestic natural gas available, he said.
Pickens’ plan is tied to a critical bill that will be introduced in Congress. It gives incentives to car and truck manufacturers that build vehicles that run on natural gas.
Read the full story.
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