Excellent Pickens Interview on Bloomberg, 4/29/2008

[haha]

Bloomberg News

He makes things clear, and he is usually right.

Ha

 

[Notmuchlonger]

Bloomberg News

He makes things clear, and he is usually right.

Ha

I agree with the man. However Im not putting money on it. Are you Ha? Funny I totally agree with what hes saying 125 to 150 oil. Yet i wont put any money on it. Guess im frozen with fear.

 

[JPatrick]

He also gave a interview on CNBC todaty(same tie--same suit.)

It is worth listening to both as he covers a little different ground on CNBC, as well as plugging his book, which ought to be good.

Interesting how he never seems to recognize the Bakken as a future source nor does he think much of the oil sands per his past musings.
MSNBC - Video Front Page

 

[Notmuchlonger]

What possibly could make oil go down? Seems like a sure investment to me.

 

[JPatrick]

What possibly could make oil go down? Seems like a sure investment to me.

Major new discovery of easy oil--End of the terrorism premium--Kicking the speculators out of the trading pits---a stronger dollar--and the most important--reduced demand.

 

[Dawg52]

If I had shorted oil as he recommended early in the year, I would have been handed my head a couple of months later. But he is a smart man. He has the bank account to prove it.

I own a natural resource and a commodity fund. That is enough exposure for me. Also makes it a little easier to swallow the constant price changes at the local pumps. Almost.

 

[Notmuchlonger]

Guess time will tell Im sure he is right. I just cant make them dollars though switch to the oil play. Something about me that just cant do it. But im sure someone is and mkaing tons of money off it!

 

[haha]

I agree with the man. However Im not putting money on it. Are you Ha? Funny I totally agree with what hes saying 125 to 150 oil. Yet i wont put any money on it. Guess im frozen with fear.

Notmuch-I've had money on this since $20. The equities for the most part have not performed nearly as well as crude, but I believe eventually it will sink in that this is for real, and producers and service outfits will tend to catch up. I have held only the equities, not futures.

Like Pickens says, for few years running world crude production has been stuck at 85 mbpd. But demand grows, not in the developed world, but elsewhere.

I also liked what he said about natural gas as a feedstock to make synthetic diesel, and windmills to replace the gas withdrawn from electricity generation.

Ha

 

[Notmuchlonger]

Notmuch-I've had money on this since $20. The equities for the most part have not performed nearly as well as crude, but I believe eventually it will sink in that this is for real, and producers and service outfits will tend to catch up. I have held only the equities, not futures.

Like Pickens says, for few years running world crude production has been stuck at 85 mbpd. But demand grows, not in the developed world, but elsewhere.

I also liked what he said about natural gas as a feedstock to make synthetic diesel, and windmills to replace the gas withdrawn from electricity generation.

Ha

Nice seems like you made out fine. Everything screams at me oil will be going much higher. Yet I wont put any dollars on it. I stick with stocks and bonds. I have an inkling I may pay the price in the long run.

 

[haha]

What possibly could make oil go down? Seems like a sure investment to me.

I should probably add that there likely are no sure investments. Oil at $20 was close though, as was Suncor at $18 where I bought. (I registered this years ago with Greg, Martha's husband. Greg also held/holds Suncor.)

It would be hard for me to wade in at current prices, though we could get weakness if the USD rallies; and I might be a buyer then.

Ha