T. Boone Pickens Sees $100 Oil At End Of 2010

For those who think the global economy will continue moving upward, Pickens says that $100 oil is possible by the beginning of next year.

One of oil’s energy counterparts, natural gas, on the other hand has been a dog lately at just under $4 per thousand cubic feet (mcf). Pickens says this is because the U.S. has a vast oversupply of this commodity. “We have the cheapest natural gas in the world,” he said, adding, “We have more natural gas than any other country in the world.”

Typically oil and natural gas have a 10-to-1 ratio in price, Pickens explains. If that were the case, then natural gas would be $8 per mcf. Pickens says that natural gas will return to its place in this ratio in the next four or five years.

Forbes