{"id":3938,"date":"2011-04-12T08:34:48","date_gmt":"2011-04-12T08:34:48","guid":{"rendered":"http:\/\/zmetro.com\/?p=3938"},"modified":"2011-04-12T08:34:48","modified_gmt":"2011-04-12T08:34:48","slug":"what_i_learned_2","status":"publish","type":"post","link":"http:\/\/www.zmetro.com\/?p=3938","title":{"rendered":"What I Learned About Natural Gas from Boone Pickens"},"content":{"rendered":"<p><a HREF=\"http:\/\/blogs.forbes.com\/richkarlgaard\/2011\/04\/11\/what-i-learned-about-natural-gas-from-boone-pickens\/\">Rich Karlgaard:<\/a>: <\/p>\n<blockquote><p><I>Here is what Pickens said:<\/p>\n<p>\u2013 Global demand for oil is 86-88 million barrels per day. It will be 90 million by the end of the year, due to global growth.<\/p>\n<p>\u2013 Global production is 84 million barrels per day. Since production falls short of demand, prices have risen.<\/p>\n<p>\u2013 America consumes 20 million barrels of oil per day. We produce 7 million barrels domestically and import the other 13 million barrels. Of the 13 million barrels of imported oil, 5 million come from OPEC \u2013 \u201cnations that hate us,\u201d says Pickens.<\/p>\n<p>\u2013 The true cost of Middle Eastern oil is over $300 a barrel if you account for U.S. military presence in the Middle East, according to Pickens.<\/p>\n<p>\u2013 \u201cDrill baby, drill\u201d \u2013 the conservative mantra to drill more oil from the Gulf of Mexico, off the East and West Coast shelves, and the Alaska Natural Wildlife Refuge (ANWR) would produce an extra 2 million barrels a day at best, says Pickens. The would raise America\u2019s domestic production from 7 million to 9 million barrels but still leave America 11 million barrels short each day.<\/p>\n<p>\u2013 In ANWR, the bottleneck is the pipeline from Alaska\u2019s north shore. \u201cIt would take 30 years to build another pipeline,\u201d says Pickens.<\/I><\/p><\/blockquote>\n<p>Well worth reading. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rich Karlgaard:: Here is what Pickens said: \u2013 Global demand for oil is 86-88 million barrels per day. It will be 90 million by the end of the year, due to global growth. \u2013 Global production is 84 million barrels per day. Since production falls short of demand, prices have risen. \u2013 America consumes 20 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/3938"}],"collection":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3938"}],"version-history":[{"count":0,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/3938\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3938"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}