Wednesday, October 11, 2006

Boone Pickens Day.

Boone Pickens in NY and making the rounds of the business media today. [Note for you sticklers, yes, the CNBC studios are in NJ.]

CNBC via MSN Video: BP Capital Founder Boone Pickens.

Bloomberg TV: Boone Pickens.

Key thoughts:

He believes we will see $70 oil again before $50 oil, based on the idea that OPEC, and in particular Saudi Arabia, will remove oil from the market to defend $60+ oil. He also still thinks we will hit $100 oil in the next year based on a geopolitical event, of which there are of course several possibilities.