T Boone Pickens on $300 Barrel of Oil
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    T Boone Pickens on $300 Barrel of Oil

    Moneynews - Pickens: Oil Could Go to $300 a Barrel

    Say gas goes to $8-10/gallon. You might want a small car. The Boone interview comes after the mandatory fortune ad if you clickit below.



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    Re: T Boone Pickens on $300 Barrel of Oil

    Quote Originally Posted by Wesley View Post
    Moneynews - Pickens: Oil Could Go to $300 a Barrel

    Say gas goes to $8-10/gallon. You might want a small car. The Boone interview comes after the mandatory fortune ad if you clickit below.


    He also has a conflict of interest in saying such with his natural gas interest. That being said, he might be correct.



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    Re: T Boone Pickens on $300 Barrel of Oil

    I think we're going to see massive inflation all the way around.



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    Re: T Boone Pickens on $300 Barrel of Oil

    Quote Originally Posted by CyPride View Post
    He also has a conflict of interest in saying such with his natural gas interest. That being said, he might be correct.
    I would love to see us use natural gas to break dependence on foreign oil.


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    Re: T Boone Pickens on $300 Barrel of Oil

    He was wrong last time around and lost a bunch of money. He isnt always right.


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    Re: T Boone Pickens on $300 Barrel of Oil

    just trying to follow how do you mean he has a conflict of interest with his interest in natural gas? There's no question he's gonna make money from natural gas. But he also knows that natural gas is only a temporary fix and that we need to figure something else out.



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    Re: T Boone Pickens on $300 Barrel of Oil

    Pickens has a very interesting plan that would mesh well with a transition away from fossil fuels. But we won't do it. If oil reaches $300 a barrel, it will be as much the federal government's fault as any other factor.



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    Re: T Boone Pickens on $300 Barrel of Oil

    Boone Pickens is also in the process of starting a new auto company and there is speculation that the cars will all be natural gas. He's heavily biased.



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    Re: T Boone Pickens on $300 Barrel of Oil


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    Re: T Boone Pickens on $300 Barrel of Oil

    He does have an interesting plan... and to a degree I think he is jockeying to put himself in a position to benefit immensely from a transition away from crude oil, but I agree with his points so I'd still go along with it


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    Re: T Boone Pickens on $300 Barrel of Oil

    i guess i don't get why people are shocked, or think it's bad that he wants to profit from NG. I mean he's an oil guy, this is what he does.

    having said that, i don't see the problem with trying to ween ourselves off oil and to use NG as a bridge to something better.



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    Re: T Boone Pickens on $300 Barrel of Oil

    Quote Originally Posted by dmclone View Post
    Boone Pickens is also in the process of starting a new auto company and there is speculation that the cars will all be natural gas. He's heavily biased.
    I would hope that he is heavily biased. If you really believe that oil will go that high and the country will go towards natural gas wouldn't you position yourself to make money off of that belief? If he didn't get invested in natural gas then I would question how much he actually believes in what he is saying.



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    Re: T Boone Pickens on $300 Barrel of Oil

    Quote Originally Posted by isubeatle View Post
    i guess i don't get why people are shocked, or think it's bad that he wants to profit from NG. I mean he's an oil guy, this is what he does.

    having said that, i don't see the problem with trying to ween ourselves off oil and to use NG as a bridge to something better.
    It is not the act of making a profit that is tiresome, it is how he goes about it- the attempt to create inefficient market conditions.



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    Re: T Boone Pickens on $300 Barrel of Oil

    Quote Originally Posted by Clonehomer View Post
    I would hope that he is heavily biased. If you really believe that oil will go that high and the country will go towards natural gas wouldn't you position yourself to make money off of that belief? If he didn't get invested in natural gas then I would question how much he actually believes in what he is saying.
    I have nothing against NG even though I think electric vehicles are the future. With that being said, do you really think he believes that oil is going to be $200-$300 a barrel in the near future?

    IMO, oil will only go so high because the mideast knows that if it gets high enough then some of these alternative options become more profitable and they'll lose market share.



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    Re: T Boone Pickens on $300 Barrel of Oil

    Quote Originally Posted by dmclone View Post

    IMO, oil will only go so high because the mideast knows that if it gets high enough then some of these alternative options become more profitable and they'll lose market share.
    On the other hand if they're smart they'll keep it under $100 to keep the alternative fuels from gaining steam. If the gas stays where it is now then there is little incentive by consumers to buy electric or natural gas vehicles.

    I do agree that electric vehicles will be be future. Natural gas would be solving the short supply of oil with a short supply of natural gas in the future. By going electric you enable technology changes to happen at power plants rather than replacing filling stations. Since there are multiple power production options out there right now we wouldn't rely on just one type of fuel.



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