Yes, and Pickens is sweating this out. He doesn’t want drilling. That’s why his PR campaign (and some chump change to himn) of alternative investments is out there.
He’s pretty much an investing genius in the simplicity of his actions. The demand for oil is going to be unrelenting over the next 20 years with all of the emerging countries (china,india etc) coming online and buying cars.
Well, now wait a minute. I saw a soundbite from him on youtube...taken from CNN...where Pickens says he DOES want drilling; his stand (whether it is correct or not) is that drilling alone isn't the answer.
But I heard him specifically say he DOES think we need to "drill it all"; offshore and ANWR.