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322 comments on DrumBeat: October 11, 2006

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shawnott on October 11, 2006 - 9:21am Permalink | Subthread | Comments top
T. Boone Pickens was on CNBC this morning, but I only caught the very end. Did he say anything interesting? Can someone offer summary of what he said?
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dbarberic on October 11, 2006 - 10:25am Permalink | Subthread | Parent | Comments top
Don't quote me exactly as this is from memory....

I caught the interview also about 1/4 the way through....

Highlights from what I can remember.....

The hosts asked him if he is still a "peaker", and he said "yes"...

Asked him about his prediction on oil prices...

He said that we will see $70 before we see $50 again.

Still predicts $100 oil, but not for 2006.

The hosts kinda "ribbed" him about his last prediction; which was "we will see $80 before we see $60.  He pointed out that we within dimes of the high of $80, but the hosts pointed out that close is not $80.

Then he talked about his investment in alternative energy.  

He is big into Canadian oil sands, not hip to ethanol, even though he has some investment in it (only to hedge his bets).

I didn't catch to whole conversation as I was brushing my teeth, but he corrected the hosts in saying that what some people consider alternative energy is still hydrocarbons and must be pulled out of a hole in the ground.  They are subject to the same limitations as oil.  I think this was in reference to using Natural Gas as a transportation fuel.

That is all I can remember.

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shawnott on October 11, 2006 - 10:27am Permalink | Subthread | Parent | Comments top
Thanks!
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Charles Mackay on October 11, 2006 - 12:50pm Permalink | Subthread | Parent | Comments top
You might also want to check out the Pickens interview on Bloomberg:

http://www.bloomberg.com/news/av/

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ziggy on October 11, 2006 - 2:22pm Permalink | Subthread | Parent | Comments top
I didn't see the CNBC segment but he was on Bloomberg.  Click here:  http://www.theoildrum.com/story/2006/10/11/91712/322#109  for my post on him.
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Oil CEO on October 12, 2006 - 1:31am Permalink | Subthread | Parent | Comments top
You guys have got me on a roll. Will somebody explain to me what exactly T.Boone is teaching the world about oil? I've been reading him as long as I know about what he has said (or has to say, if you prefer) about oil. I can't understand what he's saying. Obviously.

You would figure that he would know about peak-oil at least as well as I do. Hell, Leanan knows ten times as much about oil as ole T.Boone.

How much did T.Boone lose?

Does anybody know?

Were they suckers?

Who is the con. Who is conned?

Will he pull it off again?

Everybody loves the expression - "...got a bridge in Brooklyn to sell you(or ya)." I have never understood this. I understand the story. I understand the concept. But I must be missing something. Because I don't really understand why the story is set in New York.

There is a much better story, that gets very little play. It demonstrates the same concept. Only better. And it is also true. A guy sold the Eiffel tower for scrap metal - twice. I'm pretty sure he cashed the second check.

Shawnott, the thing you are doing here with documentation is great. Keep it up. To whoever threw that Bloomberg link out down below or wherever it is with the warning that it'll last about two days, thanks for saving other peoples' man hours. Keep it up. There will be a big raise for you. In fact we are going to make this retroactive until the time you started with us. I have a theory...naw we'll save that for another time.

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Jack on October 12, 2006 - 2:26am Permalink | Subthread | Parent | Comments top
And, as I keep pointing out, the bridge isn't even in Brooklyn, its just called the Brooklyn Bridge. It is over the east River between Manhattan and Brooklyn.
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