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Keyword: tboonepicken

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  • The problem with my $70 oil call

    10/08/2015 5:53:56 AM PDT · by thackney · 32 replies
    CNBC ^ | Oct 8, 2015 | T. Boone Picken
    After oil prices plummeted, I went on the record saying I thought they'd be back above $70 per barrel by the end of 2015. The year isn't over yet, but my prediction isn't looking good. I thought worldwide demand would go up — and it has. The latest from the International Energy Agency shows demand is already up about 1.7 million barrels a day. thought supply from the United States would go down — and it has. Companies have been laying down rigs, and U.S. production has dropped by 500,000 barrels a day since June. So where'd I go wrong?...