Boone Pickens: Crude Oil Price Will Reach $150 A Barrel In 2009
Posted Tuesday, September 23rd, 2008 at 9:22 am
Looks like legendary oil investor T. Boone Pickens, Jr., is not budging from his prediction for higher crude oil prices. From Bloomberg this morning:
Mr. Pickens told the National Press Club that he expects crude oil prices to hit $150 a barrel in 2009. He said supply forecasts show a shortfall that will drive prices up. Crude rose more than $25 a barrel to as much as $130 before settling at $120.92 Monday.
“I’m not so sure your demand isn’t now pretty well fixed,” Mr. Pickens said. “You’ve knocked out a lot of stuff. You’ve cut our demand by a million and a half barrels a day. Your demand is pretty well wrung out. You can’t cut much else.”
Source:
“T. Boone Pickens ‘ready to go along’ with bailout plan”
Bloomberg, September 23, 2008
September 23rd, 2008 at 2:04 pm
Mr. Pickens, You are right on the mark. I am writing my state Senators and Reps as well as my US Senators and Reps. I am asking them to get on the Pickens plan “NOW” and quit wasting time. Please don’t let these idiots that are more worried about you getting richer get you down. I truly believe that you care about America and a free market. Do these idiots want to make people on the other side of the world rich who hate us and want to kill us. Mr. Pickens, Keep on trucking. Thank You, Mike Oliver.
September 24th, 2008 at 1:40 pm
Thanks for the comment Mike.