Legendary Investor Likes Oil, Not Gas

MSNBC.com – Boone Pickens expects high oil prices, low natural gas prices and a pick-up in energy sector leveraged buyouts, the legendary oil investor said Friday.

Pickens, who came to Calgary to mark a $2 million donation to a brain-research institute, said at a press conference he remains bullish on oil. Prices, he said, will need to be robust to as demand in the U.S. and Asia grows while producers struggle to boost supplies.

“You got 85 million barrels (a day) available globally and I don’t think that 85 million is going to grow. I think that’s all the world can do,” he said. “And if that’s the case, with demand going up, the price has to come up to a level that will kill demand.”
MSNBC.com