T. Boone Pickens busier now than in the ’80s

… Known for forecasting the price of oil, Pickens said it’s still too early to tell how much higher the fuel price will go now that it’s broken into new highs above $82 a barrel.

“I was willing to predict the price up from $20 a barrel. Now I’m in uncharted waters,” Pickens said. “Now I have to take a little time and figure out how much the consumer can stand.”


Pickens said the only force that could drive down the price of oil is lower demand, even as supply remains roughly constant at 85 million barrels a day.

“I don’t see any additional supply,” Pickens said. “The Saudis say they have plenty … but I don’t believe that. They’re just about strapped producing what they are now.”

MarketWatch