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Page added on July 8, 2011
T. Boone Pickens Says Peak Oil Is Already Here & Oil Going To $300
Peak Oil & Oil Research: http://TurnKeyOil.com
“All the easy oil and gas in the world has pretty much been found. Now comes the harder work in finding and producing oil from more challenging environments and work areas.” – William J. Cummings, Exxon-Mobil company spokesman, December 2005
“It is pretty clear that there is not much chance of finding any significant quantity of new cheap oil. Any new or unconventional oil is going to be expensive.” – Lord Ron Oxburgh, a former chairman of Shell, October 2008
T. Boone Pickens on CNBC Discussing Peak Oil on 5/20/2008 Original Video: http://www.youtube.com/watch?v=jngHfYFs9L8
Originally Aired on CNBC: http://www.cnbc.com/id/15907487/
7 Comments on "T. Boone Pickens Says Peak Oil Is Already Here & Oil Going To $300"
Dusko on Fri, 8th Jul 2011 3:32 pm
Good Luck T Boone! Wiring all of those windmills requires vast amounts of copper. Copper theft is on the rise. In the future we won’t be able to secure power lines from one city to another let alone nationwide power grids. The dark age is upon us and gasoline, copper and other raw material theft is the new normal.
Don’t forget, who’s going to invest in all of those natural gas filling stations?
CXGZ61 on Fri, 8th Jul 2011 4:17 pm
Pickens is correct. He has natural gas holdings that will never end.
CXGZ61 on Fri, 8th Jul 2011 4:18 pm
General Motors announced a natural gas car and a plan to build a NG distribution infrastructure the othe day.
Kenz300 on Fri, 8th Jul 2011 5:36 pm
The price of oil will continue to rise. The transition to electric, flex-fuel, hybrid and CNG vehicles has begun. 40 MPG is better than 20 MPG. As the price of oil rises we will all use energy more wisely and we will conserve more. We will walk a little more, take fewer trips in the car, get the bicycle out of the garage and use public transportation a little more. It is time to transition to safe, clean alternative energy. Second generation biofuels made from algae, cellulose and waste will become a bigger part of the fuel supply.
Ian Cooper on Fri, 8th Jul 2011 7:39 pm
Pickens may be right, but let’s not forget he has a dog in this fight. It’s in his interest to say that the price of oil will skyrocket.
James on Sat, 9th Jul 2011 3:14 am
If they put more natural gas cars on the road, it will drive up the cost of all natural gas, and this will make it more expensive to heat our homes in the winter. Also, the mileage for Natural Gas cars will be way lower than Gasoline powered cars. We would be better off saving and using the gas for home heating purposes.
Makati1 on Sat, 9th Jul 2011 6:56 am
A recent study I read puts the fraking natural gas boom in the US at 7 years total. Why does everyone swallow the ‘we can go on forever as we are’…dream? Natural gas does NOT replace oil.
The energy level is much lower and the ERoEI is way lower. All other ‘replacements’ are even farther from oil in net energy.
The gas industry is trying to keep the hype up to make more money before it all ends in another decade or so.