Cheap US Energy Can Help Solve ‘Fiscal Cliff’: Pickens

Wednesday, 7 Nov 2012 | 4:46 PM ET
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Billionaire energy investor Boone Pickens told CNBC's "Closing Bell" on Wednesday that energy policy can be an important part of any solution to the country's fiscal problems.

After House Speaker John Boehner indicated Republicans in the House were open to looking at taxes and tax reform to fix the "fiscal cliff," Pickens said, "To me the solution is some of those things and you could put energy in there."

Pickens has long been a proponent of weaning the U.S. off OPEC oil in favor of the natural gas and other resources that can be found across North America.

(Read More: Natural Gas Could Be Bigger Than the Internet, Welch Says.)

"Our industry has done an unbelievably good job of providing the cheapest energy in the world to the United States," Pickens said. "We have the cheapest oil by 15 percent, the cheapest natural gas by 75 percent and the cheapest gasoline by 50 percent."

Pickens: Market Thought Romney Would Win
Discussing elections, energy dependence and the fiscal cliff, with T. Boone Pickens, BP Capital Management founder. "I think the market thought Romney was going to win -- don't give up, just manage it and go forward" he says.

With the cheapest energy available in the world, Pickens expects industry to come back to the U.S. and help bolster growth.

(Read More: Obama's To-Do List: What He Plans for a Second Term.)

"But you're going to have to have some leadership from Washington to understand the resources, understand what the resources can do and then sell it to the world," he added.

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