Top 10 Alternative Titles for this Post:
10. Got Oil?
9. Boone Pickens Declares War on Belgium.
Video interviews today on:
CNBC: Boone Pickens.
Bloomberg: Boone Pickens.
- Believes oil will reach $100 a barrel within the next year, "unless you go into a global recession".
- Does not buy the idea of a terror/geopolitical/risk premium in oil prices, instead he thinks high prices are simply a function of supply and demand being close to or out of balance at roughly 85 million barrels a day.
- Does not believe we are at the point of substantial demand destruction, and he isn't sure where it is.
- Believes natural gas will be used as a transportation fuel on a large scale.
- Prefers "oil sands" to "tar sands".
- Doesn't believe Saudi Arabia's figure of 250 billion barrels of reserves.
- Does believe there is 250 billion barrels of reserves in the Canadian oil sands.
- Recognizes the increase in costs of new oil sands production, but still talking about Suncor.
- Working to close slaughter houses that slaughter horses for export consumption.