Thursday, June 15, 2006

Boone Pickens putting his money where his mouth is.

I guess he didn't hear the one about "never give 'em both a time and a price; just one or the other." And maybe he doesn't need to worry, he's been pretty much nailing it so far.

The Dallas Morning News: Pickens predicting $80 oil.


Boone Pickens, the legendary Dallas oil and gas investor who seems to peer at markets through a crystal ball, issued a new prediction Monday: The price of a barrel of oil will rise to $80 by the first of next year.

Reuters: Legendary investor Boone Pickens likes oil not gas.


Pickens, a long-time backer of companies operating in Canada's oil sands, said he's been buying shares of oil-sands miner Suncor Energy Inc. (SU.TO: Quote, Profile, Research) (SU.N: Quote, Profile, Research) as that company's stock price slipped in recent weeks along with those other energy companies.

"I've been a buyer of Suncor recently on the pullback from $85" a share, he said.