T. Boone Pickens is no stranger when it comes to high oil price predictions. He used to say “$80 before I am 80” and that turned out to be correct and then some as the oil and energy bubble from 2007 to 2008 rose endlessly before petering out just under the $150/barrel mark.
On CNBC this morning, T. Boone Pickens issued his newest decree on higher oil prices. Keep in mind that Pickens was just calling for oil to possibly hit $148 per barrel again just earlier this week after criticising the Obama administration for attacking the oil and gas sector with higher taxes and with more regulations. His warning is that the Saudis cannot add enough capacity amid sanctions against Iran without going into their storage as opposed to just more production.
Pickens clarified this morning that his prior view is that Brent North Sea Crude could hit $148 per barrel but that would not be the case on West Texas Intermediate Crude. His view is that Brent is the global market price now. Still, America is producing far less than it consumes. Pickens thinks that natural gas prices have gotten so low that the fuel could easily be used as an alternative. Nat-Gas is barely $2 here but it is much more expensive elsewhere.
JON C. OGG
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
