Not sure what's up with that title. The stocks he likes are SU, COSWF, EOG, KWK, and XOM. First two Canadian oil sands, next two natural gas, the final is the biggie. I am pretty sure Boone Pickens is also hot on coal, BTU and CNX, I believe.
Star-Telegram: SHLACHTER, PEROTIN, FUQUAY, & CO.
Pickens: Demand for energy will stay strong
Billionaire Boone Pickens, who forecasts a drop in oil prices next year after predicting 2005's rally, told Bloomberg News that he plans to retain his favorite energy stocks: He expects demand to remain strong.
His faves include Suncor Energy of Calgary, Alberta; Canadian Oil Sands Trust; EOG Resources of Houston; and Quicksilver Resources of Fort Worth, according to Bloomberg.
Pickens correctly predicted in 2004 that oil prices would top $60 a barrel this year. Crude-oil futures in New York have jumped 40 percent this year and briefly traded at $70.85 a barrel Aug. 30. Pickens said in Nov. 9 and Dec. 20 interviews that oil would drop toward $50 in the first half of 2006 because supplies are abundant and high prices are crimping demand.
"It'll be slow in the first half for energy stocks," Pickens, who also owns shares of Irving-based Exxon Mobil, told Bloomberg.
Gains should resume in 2006's second half for exploration and production companies and other energy stocks as demand strengthens, Pickens told Bloomberg. "I don't believe this downturn's going to last for very long," he said in the interview.
P.S. There's a piece on Rainwater in there too. Joining the Dark Side, he is. For more on that, read Fortune's "Energy's Prophet of Doom."
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