In "The Mix" Susan talks to T. Boone Pickens, CEO of BP Capital, Sen Tom Carper, D.-Del., and Sara Banaszak, Senior Economist with the American Petroleum Institute, about what it will take to get the U.S. Weaned off foreign oil.
Pickens says electric vehicles will be a help, but they won't put a dent in a huge source of petroleum consumption: heavy-duty transportation fuel. He believes if the nation's fleet of 18-wheelers is converted to natural gas, imports from OPEC will be cut in half. He also calls for a consortium of North American Countries, the U.S., Canada and Mexico, to band together for oil production and distribution, using the resources of each to help with each other's unique needs.
Carper, who is behind a bill aimed at reducing America's foreign oil dependence, says EVs will help a lot, especially if gasoline taxes or overall fuel costs rise as a deterrent to increase consumption. He says even if those prices rise, if fuel economy increases significantly, consumers will save money overall.
But Banaszak says she's concerned that fuel tax or price increases will disproportionately affect low-income people who rely heavily on their cars. She also says that API has learned that the transition to new technologies, like EVs usually takes time. She sees it being phased-in over a number of years.