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Pickens: Oil Could Go to $300 a Barrel
Moneynews.com ^ | Friday, June 19, 2009 10:01 AM | Dan Weil

Posted on 06/19/2009 11:07:40 AM PDT by TLI

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Legendary oil man T. Boone Pickens says that if the U.S. doesn’t take major steps to curb its reliance on foreign oil, the consequences will be drastic.

“Let’s say in 10 years, you do nothing,” Pickens tells Fortune.

“You will be importing 75 percent of your oil (up from 68 percent now), and you’ll be paying $300 a barrel.”

.

(Excerpt) Read more at moneynews.newsmax.com ...


TOPICS: Business/Economy; Miscellaneous
KEYWORDS: barrel; crude; oil; price
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To: TLI

We are sitting on a friggin seas of oil. New discoveries in the United States say we have enough for 50 years at our present rate of consumption.

There is no excuse for us to be buying foreign oil. We need refineries and drilling we dont need imports.

The powers that be have made their minds up that we are having Globa, Warming and that they will make energy expensive and there appears to be nothing we can do about it. The way things stand now

When the squeeze comes in the citizens will begin to get restless and demand oil be drilled,We have to replace every POS in the Congress, and bote for no Encumbents in the next election. Throw the bums out.


21 posted on 06/19/2009 11:21:11 AM PDT by Venturer
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To: ClearCase_guy
Gas was $1.15 a gallon CHEAPER one year ago after Bush defied the democrat party and opened the US up to drilling.

The, the enemy forces stole the election and seized power in Washington.


22 posted on 06/19/2009 11:21:54 AM PDT by FormerACLUmember (When the past no longer illuminates the future, the spirit walks in darkness.)
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To: ClearCase_guy
Gas was $1.15 a gallon CHEAPER one year ago after Bush defied the democrat party and opened the US up to drilling.

Then, the enemy forces stole the election and seized power in Washington.


23 posted on 06/19/2009 11:22:25 AM PDT by FormerACLUmember (When the past no longer illuminates the future, the spirit walks in darkness.)
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To: dirtboy; TLI

24 posted on 06/19/2009 11:32:37 AM PDT by Daffynition ("If any of you die, can I please have your ammo?" ~ Gator113)
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To: TLI

AW JEEZ! NOT THIS SH** AGAIN!!


25 posted on 06/19/2009 11:34:26 AM PDT by SloopJohnB
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To: TLI

if it does, guys like Boone will be just a few steps in line behind Obama and Algore, waiting for their tar and feathers...


26 posted on 06/19/2009 11:36:14 AM PDT by Buckeye McFrog
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To: a fool in paradise
If it was about “getting off foreign oil” we wouldn’t be denying our nation use of our own oil.

Agreed, although if you believe that oil is a finite resource, it makes sense to use foreign oil first. But not so much that you liquidate the country in the process. And not so much that you have no alternatives when they raise rates.

27 posted on 06/19/2009 11:36:44 AM PDT by DannyTN
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To: a fool in paradise
If it was about “getting off foreign oil” we wouldn’t be denying our nation use of our own oil.

Agreed, although if you believe that oil is a finite resource, it makes sense to use foreign oil first. But not so much that you liquidate the country in the process. And not so much that you have no alternatives when they raise rates.

28 posted on 06/19/2009 11:36:48 AM PDT by DannyTN
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To: TLI

The reason oil is going to be costing $300 a barrel is because the dollar is going to drop to about 10% of its present purchasing power. $300 will be about equal to what $30 was worth on September 18, 2008. You know, the day before it became absolutely, positively, imperative that a new flood of cash be injected into the economy to bail out the banks and insurance companies, before they fell like dominos.

The dollar today is only worth about 1% of what it was in 1909, before any of this “progressive” stuff got under way.

Did you know that a brand new 1949 Ford cost $1,806 in June 1949, right off the showroom floor? And that was not even their cheapest model, which would have been the plain business coupe, six-cylinder, no clock, no heater, no radio, which was available for $1,380.

And Chevrolet could beat even that price.


29 posted on 06/19/2009 11:39:00 AM PDT by alloysteel (Never let an inanimate object know that you are in a hurry.)
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Comment #30 Removed by Moderator

To: TLI
We have enough oil and convertible hydrocarbons to totally supply US demand at current levels for 400 years, without any new nukes plants, 500 years of we build a lot more plants and do not use hydrocarbons to generate electricity. STUFF IT, BOONE!
31 posted on 06/19/2009 11:40:39 AM PDT by WellyP
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To: TLI
Pickens should have looked into algae oil before thinking about windmills.
32 posted on 06/19/2009 11:41:37 AM PDT by jonrick46 (The Obama Administration is a blueprint for Fabian Socialism.)
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Comment #33 Removed by Moderator

To: jonrick46

Maybe he can buy up the recycling french fry oil franchise from McDonalds....Hurry, T BOONE! There still may be time to make another buck to add to your billions you asshole!


34 posted on 06/19/2009 11:46:07 AM PDT by Gaffer
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To: alloysteel

The first car I ever bought myself was $2700, a brand new 72 Nova 350 3-speed 2-door...right after returning from overseas....


35 posted on 06/19/2009 11:47:35 AM PDT by Gaffer
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To: TLI
Once the infinite supply of Rusky oil starts flowing it will be almost free.

I hope Palin gets going with some of those pipelines to suck oil from our soviet buddies.

36 posted on 06/19/2009 11:47:51 AM PDT by norraad ("What light!">Blues Brothers)
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To: Gaffer
I had one of those Novas too, what a tough haulin'a$$ hunk of iron.

Used to stop at the local airport for a bit of avgas for each tankful, yahooo!!

37 posted on 06/19/2009 11:50:48 AM PDT by norraad ("What light!">Blues Brothers)
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To: TLI
And the hits just keep rolling in.

But of course the pay czar will make sure the minimum wage by then is 500,000.00 per year.

38 posted on 06/19/2009 11:53:24 AM PDT by ImpBill ("America ... where are you now?" signed, a little "r" republican!)
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To: TLI

Sorry, Pickens. I don’t want to pay $1k a month to heat my home just because you don’t think NG demand is high enough yet.


39 posted on 06/19/2009 11:54:15 AM PDT by mysterio
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To: DannyTN
Oil price shock was a major factor in the current crisis.

"Never waste a crises..." says Rahm.

It has always bothered me how oil prices collapsed during the election, thereby removing a powerful issue for the Republican party. It's more than ironic to me how prices are soaring now that 'bam is in office.

It's a handful of governments that control the oil market, and none of them are our friends, so it's plausible.

And it's truly scary that it could be so easy to policy, even elections here. People can't see much beyond their noses.

40 posted on 06/19/2009 11:59:40 AM PDT by tsomer
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