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Pickens:  US Moving Toward Energy Policy

Boone Pickens
Richard Drew

Billionaire energy investor Boone Pickens says the government is now behind at least half of the energy-reform plan he advanced last summer to reduce America's dependence on foreign oil.

In Washington for a CNBC energy summit, Pickens said he expects the plan to make a huge difference in America's energy dependence within the next three to five years.

"We've got the grid, and we've got the wind and solar, into the stimulus package," he said.

His attention is now focused on replacing Diesel fuel with natural gas—a resource in which he has major investments—to power big trucks.

"The only way we're going to reduce foreign oil is with natural gas," he said.  "It's the only resource we have in America that can do it.  I think that goes in the energy package coming up shortly."

Video: Boone Pickens discusses his energy plan and belief that natural gas is the only current alternative.

Pickens stressed the importance of a national energy plan, something the country has not had for four decades, and said Washington is moving swiftly in the direction of adopting one.

"A fool with a plan can beat a genius with no plan," he said.  "I think we could very well see a real energy plan before Memorial Day."

He stressed the nature of dependence on foreign energy as a threat to national security, despite the recent collapse of oil prices.

"The security of the country remains at risk, no matter what the price is," he said.