Oil Baron T. Boone Pickens has been making presentations this month about the dependence on foreign oil and over the cost of energy. Today, you saw a more confident Pickens than the man who had lost a billion or two billion dollars as oil tanked in 2008. He made one of his bold oil predictions on CNBC today.
Pickens said that OPEC needs more money for its oil and it will announce more cuts to oil production. He predicted oil will hit$75 oil by the end of the year. Oil could go higher after that, but he just made a very bullish prediction:
- “We’ll see $60 before it goes under $40.00.”
Pickens is back! Or at least he thinks so.
Jon C. Ogg
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