Thursday, February 21, 2008

Boone Pickens on CNBC.

Boone Pickens was interviewed this morning on CNBC and he spoke for a while about the long term challenges for energy in America, how none of the presidential candidates had any kind of reasonable plan for really dealing with this, and the fact that we are sending a half a trillion dollars a year overseas to pay for oil to people that we don't know, and who may not be our friends. His solutions include wind and solar, natural gas as a transportation fuel, clean coal, and ethanol (which appears to be a notable change of heart).

He's also currently short both oil and natural gas as he expects them to fall over the next couple of months. Oil he said might drop $10-15 into the second quarter, but he predicts it will be back above $100 in the second half. Natural gas he believes is unusually high due to the weather and will back off.

CNBC: Pickens Expects Oil, Natural Gas Prices to Fall.