Legendary oil investor T. Boone Pickens, Jr., has a new forecast for the price of crude oil. According to CBS News yesterday:

In town for the Democratic convention to promote his “Pickens Plan” for alternative energy, billionaire oilman T. Boone Pickens predicted $200 a barrel oil within three years.

“In two or three years, we’re going to be at $200 a barrel—could be $300 a barrel for oil,” Pickens said inside the “Big Tent,” a complex outside the Pepsi Center set up for bloggers. “And consequently, our economy is going to struggle and our security is just—it’s a disaster.”

In an earlier post, I noted that back on July 22, Pickens told U.S. lawmakers that oil prices would hit $300 a barrel in 10 years if the United States failed to reduce its dependence on foreign imports.

Source:

“T. Boone Pickens Predicts $200 A Barrel Oil”
CBS News, August 27, 2008

—

Learn How To Trade Crude Oil In 90 Seconds - MarketClub Lesson

This post is filed under Commodities, Energy, Natural Resources, T. Boone Pickens. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.