Pickens Talks Security In Natural Gas, Canadian Oil Push (SU, CHK, HES, APC, CLNE)

Billionaire T. Boone Pickens has a plan to rid the U.S. from Middle Eastern oil, and while his lobbying efforts are most often directed at domestically produced natural gas, he talked up Canadian oil in Calgary this week. According to coverage by the Calgary Herald, Pickens said the U.S. should import more Canadian oil while developing its own natural gas supplies. “We cannot continue to buy oil from the enemy,” Pickens explained, citing security concerns tied to Saudi Arabian imports.

At the end of the second quarter, Calgary-based oil sands driller Suncor Energy (SU) was the largest position among Pickens’ BP Capital Management hedge fund’s top-15 U.S.-listed equity holdings. Elsewhere, the portfolio was chock-full of domestic energy plays, including Chesapeake Energy (CHK), Hess (HES), and Anadarko Petroleum (APC), where Pickens was increasing his stakes during Q2.

Pickens has led a push for the conversion of big rig trucks from diesel fuel to liquid natural gas, which he touts as cheaper, cleaner, and domestically produced. According to the Herald, the former oilman told the Calgary Chamber of Commerce that shifting cars and long-haul trucks to run on natural gas would slash U.S. dependence on OPEC oil by -50%. Pickens stands to benefit from such a transition via his notable stake in Clean Energy Fuels (CLNE), where was a co-founder.

To see where you stack up against Pickens, or to view more stocks his hedge fund has invested in, visit tickerspy.com.

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Tags: APC, CHK, CLNE, HES, SU