Nov 21, 2011 – 3:35 PM ET | Last Updated: Nov 21, 2011 4:05 PM ET
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BP Capital Management CEO T. Boone Pickens.
Oil tycoon T.Boone Pickens says that the United States treated Canadians like 'step children' by delaying TransCanada's Keystone XL Pipeline.
"The United States is silly enough to think Canada is a part of the United States because they are both in North America and so they treat the Canadians like step children," the candid Pickens told CNBC in an interview. [Watch the video here].
Taking broad swipes at the Obama adminstration's energy policy, Pickens said there are close to 50 pipelines crossing the Ogalla Aquifer in Nebraska. The ecologically sensitive area was a flashpoint in the green movement's objection to the $7-billion pipeline. The opposition prompted a State Department order to move the pipeline away from the area, further delaying the project.
"The Ogallala Aquifer extends from midland Texas to South Dakota across eight states. Now can you imagine how many pipelines cross that Aquifer? Hundreds…my ranch sits right in the middle of it in Roberts county, Texas. I have three pipelines across my ranch," said Pickens.
The entrepreneur, who made his billions via acquisitions of energy companies and runs BP Capital Management, said the U.S. energy sector has a great story to tell: "Natural gas prices in the U.S. is under $4, making it cheaper than European gas which is $13 and at $16-18 in the Middle East. We have the cheapest energy in the world in this country. Our oil is cheaper by $15 a barrel than the global price and our natural gas is cheaper by a fraction. Why isn't somebody saying we have the cheapest energy in the world? We can bring industry back into the country."
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