From The Desk of T. Boone Pickens

Foreign Oil Makes Up The Largest Part (51%+)Of The U.S. Trade Deficit

Washington DC February 11, 2011;

Army!

I spent the better part of this week in Washington, DC meeting with leaders of both parties in both the House and the Senate. I was very encouraged by the level of understanding of the Pickens Plan and the continued support from many. It was a great trip. Check out my video message here:

As we've seen over the past three weeks, events over which we have no control can have an alarming impact on our economy and our national security by potentially disrupting the enormous daily oil imports we continue to rely on.

The oil import numbers for January we just announced show that we imported 366 million barrels of petroleum-62 percent of our needs-at an average price of $89.17 per barrel.

That means we spent $32.6 billion on our oil addiction in January. In fact, January was the most expensive month since September 2008, when the economic downturn began.

This problem is not going away. The recent turmoil in Egypt and growing concerns about more crises in the Middle East are showing us just how volatile oil prices can be. Importing 62 percent of our oil underscores our vulnerability and exposes us to risks in price spikes and supply instability. I think we'll see gas prices hit $4 a gallon by this summer.

Also, this past week the Tampa Tribune published a glowing editorial endorsing the Pickens Plan. Click here to read it. We're still working hard and still spreading the word-and I know you are, too.

Thanks for everything you're doing. Together we're going to make a safer, cleaner, more prosperous America.

-- Boone