T. Boone Pickens and the Hudson Institute's Dr. Arthur Herman talk about the enormous impact hydraulic fracturing and horizontal drilling have had on OPEC and the world economy in general. They also explore how fracking is affecting Russia’s economy and Putin’s view of the United States. The conversation includes discussion of the Keystone Pipeline and the Strategic Petroleum Reserve.

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US President Donald Trump reacts after signing executive orders imposing tariffs on imported goods in the Rose Garden at the White House on April 2, 2025, in Washington, DC. (Andrew Harnik via Getty Images)