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Boone Pickens: Get Ready for $400 Oil

(2010-06-05 01:49:01) 下一个

Boone Pickens: Get Ready for $400 Oil?

Published: Friday, 4 Jun 2010 | 7:25 PM ET
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By: Tom Brennan
Web Editor, Mad Money

If US energy policy continues on its present path, legendary oilman T. Boone Pickens told Cramer on Friday, the price for a barrel of crude could jump more than five times its present level in a decade.

Pickens was using OPEC revenues between 2003 and 2008 as a model, he said. Those revenues clocked in at $250 billion in 2003, but just five years later they had skyrocketed to $1.250 trillion, five times that of ’03.