The Global Energy Leaders Podcast – Episode 58

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On today’s episode, Tom Cambridge, president of the Texas Pipeline Association, visits The Global Energy Leaders Podcast to discuss Texas and the Panhandle Import Reduction Initiative.

Guest:

Tom is an 82 year-old geologist, former oil and gas CEO, now chairman and geologist for a private family exploration company, Cambridge Production, Inc. A founder of Panhandle Import Reduction Initiative (PIRI), a single purpose organization to educate the public and government to the facts that we in the U.S. now have the oil resources and ready partners in Mexico and Canada to be self-sufficient in North American.

 

PIRI formed in reaction to the Saudi/OPEC announcement in 2014 that, “They wanted the U.S market and wanted to drive U.S. producers out of business,” whence they began to flood the world with cheap oil and drove the price down to $25/bbl. putting 400,000 people in the industry out of work, bankrupting 150 public companies and reducing  investment from $21 billion in 2014 to $4 billion by 2016,  threatening our jobs, economy, and national security by making  us more dependent on unstable parts of the world and having us spend and send billions to terrorist countries.  

 

PIRI is calling on the president and secretary of commerce to investigate the unfair trade practices of the Saudi's and also for the president, by proclamation, to limit foreign imports of crude oil, with the exception of Canada and Mexico, to 10-12% of our 19.5 million bbls/day needs, which will stimulate our own production, keep our dollars in our own economy, and bolster national security.

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Until next time, keep climbing.