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T. Boone Pickens said that based on the latest figures from the U.S. Department of Energy's Energy Information Administration (EIA), the U.S. imported 63 percent of its oil, or 4.35 billion barrels in 2009, sending nearly $265 billion, or $502,473 per minute, to foreign governments.
Oil tycoon T. Boone Pickens spoke at the National Press Club in Washington Monday and called on both presidential candidates to come up with a plan to reduce U.S. dependence on foreign oil.
Will T Boone Pickens plan work? Energy analysts say parts of it seem plausible, other parts don't and the timetable is probably unrealistic. It also would substitute one expensive fossil fuel for another.
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