Time for a little JATO, Mr. President

By Carlos Calwianka, staff writer

“And for the sake of our economy, our security, and the future of our planet, I will set a clear goal as president: In 10 years, we will finally end our dependence on oil from the Middle East. “

Obama acceptance DNC 2008 Democratic National Convention

The U.S. Energy Information Administration’s natural gas statistics suggest that Obama has set a realistic energy goal. The U.S. is a natural gas producing superpower and the spectacular Devonian black Marcellus shale oil play (in Ohio, Pennsylvania, New York and West Virginia) has up to 262 trillion cubic feet of natural gas in rust belt-high unemployment country. The Marcellus is a field that, thanks to hydro fracking and horizontal drilling, is a multi-TRILLION dollar energy bonanza close by to half the U.S.´s population. The total U.S. potential gas resources of 2,543 trillion cubic feet is even more spectacular in its job creating promise.

For perspective, each trillion cubic feet of natural gas (which can power vehicles with off the shelf technology) is roughly equivalent to 172 million barrels of crude. Thus at $86/barrel for West Texas Intermediate (September delivery), one trillion cubic feet of natural gas is worth approximately $14.7 billion. Multiply that by 262 (tcf) just from the Marcellus and America´s gas riches rival its debt ceiling increases.

Obama´s inspiring energy goal and commitment to produce 5 million green jobs behooves him to confer with an energy magnate like T. Boone Pickens and consider his ambitious green energy plan. The NATURAL GAS Act (H.R. 1835 and S. 1408) being promoted by the Pickens’ plan provides incentives to facilitate the transition to natural gas for heavy vehicle fleets and develop fueling infrastructure. Obama endorsed this legislation in March.

Support has been bi-partisan but Obama needs to give this initiative a full court press. Pickens, alas, a seasoned natural gas leader has not been to the Obama White House for strategy input even once.

Al Sharpton however, America’s flamboyant racial huckster, is another story. Sharpton has no less than 25 entries on the White House´s visitors log since 2009.

America´s recent rating downgrade and mass unemployment demand a big dose of “JATO” (jet assisted takeoff) to pick up America’s moribund economy. Though nuclear power beats Pickens’ windmills hands down, his proposal to convert truck fleets to natural gas could lead to trillion dollar economic benefits and jobs.

Mr. President give Sharpton a permanent rain check and invite Pickens in to help chart America´s energy resurgence!