T. Boone Pickens, the Nostradamus of Peak Oil?

[marmar]

Oil Price to Match Record $147 in Three Years, Pickens Says
By Christopher Martin


July 7 (Bloomberg) -- T. Boone Pickens, founder and chairman of Dallas-based BP Capital LLC, said oil prices will match last year’s record $147 a barrel in three years as producers fail to increase output.

“We’ll be flat at 85 million barrels a year,” Pickens said in an interview. “By 2013 we’re going to see a decline in production. In 10 years we’ll be at $300 a barrel.”

Pickens, 81, one year ago started a $60 million promotion for a national energy plan that relies on domestically produced natural gas to cut U.S. dependence on foreign oil. Without a switch to gas, the U.S. will be spending $2 trillion a year importing oil, he said.

“The problem is we don’t have the oil,” Pickens said. “And we’ve got gas coming out our ears.”

Crude oil futures for August delivery today fell $1.12, or 1.7 percent, to $62.93 a barrel on the New York Mercantile Exchange. The price has gained 41 percent this year.

Oil is not going to get any less expensive relative to natural gas, Pickens said. He said gas needs no refining and emits 50 percent less pollution than gasoline.

His plan has received some support in Congress, said Graham Mattison, an analyst at Lazard Capital Markets in New York.

“Political support for the natural gas vehicle industry continues to build,” Mattison said. A House bill would double some natural-gas vehicle tax credits and double the amount stations would get to install pumps for the fuel, he said. The Senate may consider similar legislation tomorrow, he said.


http://www.bloomberg.com/apps/news?pid=20601087&sid=aQZBAT64L.zk

[FreakinDJ]

1. Pickens is merely out for himself - looking to make a buck

but he is right about peak oil

[customerserviceguy]

2. He's just a market manipulator

He's trying to pick up support for his smaller set of wind farms, he must have gotten way too much resistance for the big fat one he had planned.

He's as much a bullshitter as anyone who sold a derivative based on a package of subprime mortgages backed by smoke-and-mirrors appraisals. Yes, a broken clock is right twice a day, but with oil prices falling right now on the economic news, he's trying to find the next sucker down the road, that's how all the rich fucks make their money.

[Double T]

3. Pickens is a shameless self promoter.

Don't let the smooth talking southern swagger fool ya; Boone is a stinking filthy greedy rich bastard that can never have enough.

[obliviously]

4. The windmills and gas were just part of his plan

He was planning on selling water too. here is one story . You can google for more.
http://www.popularmechanics.com/science/earth/4275059.html