Pickens: Oil Will Reach $300 a Barrel

Pickens: Oil Will Reach $300 a Barrel

moneynews.newsmax.com

Pickens: Oil Will Reach $300 a Barrel

Friday, August 28, 2009 8:04 AM

Oil legend T. Boone Pickens, now CEO of BP Capital, says oil prices will continue to rise, possibly reaching $300 per barrel. “Look at the history,” Pickens told Dan Mangru of Moneynews. It proves oil prices will go up, as OPEC revenues increased five times over the last five years, he says. Supply is stuck permanently at 85 million barrels per day, and demand will keep rising over the long term, Pickens s

(visit the link for the full news article)


Related News Links:
moneynews.newsmax.com

Good Link

[edit on 8/30/2009 by semperfortis]

The old wind turbine is at it again.

They say timing is everything. Maybe he's got it down right now.

He wants to make a bundle off of wind, and there is no one better at that than ALgore. Oh, and the greenpeace liars. And the people that want us vaccinated, and...

You get the idea.

He has to get investors in the market, cause if you look at the volume on the Street, it still isn't there.

I don't believe oil will rise. Food, yes. Oil, no.

moneynews.newsmax.com
(visit the link for the full news article)

reply to post by skycopilot


There is about 1,000,000 accredited investors and more than a handful of oil and gas limited partnerships that forecast and say otherwise (with their pocketbooks)

Dont count on oil staying below 100 a barrel stable for too much longer unless we have major advances in tech. in the coming years that will change the slope in a diff. direction

Oil will be whatever price the powers that be want it at. They have shown, that for the most part, they can manipulate the price as they want. You can look at history to prove that.

There is so much that goes on in the background that we will never see, but you can make book the price will eventually be what the ruling elite want it to be.

If I was tptb, i'd invest in and infiltrate all aspects of new energy secretly, then when i had a handle on the majority of patents i'd make the price of oil go up exponentially.
We would complain so much at a price such as that it would force the government to take action on alernative fuels.
and then there i am, already holding patents for alternative energy. I'd say green, but i'm not convinced the manufacture of it is green in any shape or form.
I just remember that when it was one hundred something there was an uproar.
btw, americans, your gas was cheaper than mine even then, and i live in alberta....at this point, all we need is one baby seal-clubber and we'd be bombed by peta.

When the Dollar collapses, I dont know how this country is going to be able to pay for any oil imports.


This is an urgent national security issue .. I'm thinking about the military.

The Democrats have a stranglehold over our ability to defend ourselves in the case of an import cessation of oil.

I wouldn't be surprised if a lot of the environmental activist groups, the ones who always use the courts to block expansion of domestic oil development , are being bankrolled by Muslim countries as a way to cripple us in the future.

There shouldn't be any doubt in anyone's mind that oil will go to $300 a barrel, I can assure you it will.

The only question is, how long will it take and what path will oil prices take to get there? Do we drop back down to $40 due to 15% unemployment first, then take decades to creep up to $300? Or will it shoot up to $300 within a few years? Those are the questions we should be asking.

WHEN will oil reach $300 is the question, there is no "if".

The reality is that we have hit Peak Oil and the supply isn't going to increase, and they aren't going to switch off of oil no matter what until they have milked every last little penny out of it.

Eventually the strategy will be to price most people off of it, onto busses and other forms of public transportation and make it more and more of a luxury item and a cost of doing business for those in transportation.

Which of course gets passed on to the consumer, who of course will be able to afford the high prices of normal every day products because they have to take the bus or ride a bicycle and no longer have the expense of a car.

Logistically I am guestimating that even if we had a secure alternative energy already in the box it would take two decades to retrofit that which needs retrofitted and to really bring it into wide distribution.

Like the early days of the automobile, horse and buggies, and electric street cars and trolleys all shared the same road depending on your station in life and economic strata.

Oil will get insanely expensive before it's all through.

I kicked the habit six months ago and bought a bicycle and I have to say I wish I would have done it years ago. I go more places more often on my bike than I ever did in my car, pay nothing to get there on it, pay nothing for parking, pay nothing for insurance, and get a lot of great air and exercise out of it.

The powers that be use oil as a means to economically enslave us and I highly recommend to anyone who wants to be free, to find a way to free yourself of it.

What most likely will happen is that $300/barrel will have little to do with "peak oil" and more to do with near future hyperinflation of the US dollar.

hmmm, sounds like another "recession is coming around. 2 more cycles and we'll definitely have something economically viable. I'm all for another price hike, last time around there was a lot of progress being made on alternatives.

reply to post by ProtoplasmicTraveler


I agree!
My comment on OP?
Cool. I'm glad to get us on the wagon! We are addicted.
Even the god of oil, bush himself admitted that!


Now if we can just convince china and some others....

Originally posted by dodadoom

Now if we can just convince china and some others....

Convince them of what? I see no sign that they're as stupid as people in the West.