CNBC could not have found a more stretched guest than T Boone Pickens to comment on visiting China President Hu Jintao’s calls for deeper engagement with the United States. Pickens has one goal and one message these days – the Pickens Plan, which calls for ending the US’s dependence on oil from the Middle East.
He does not really care much about the rest. He has his eyes on the fact that half of the US’s trade deficit is caused by the oil imports. And a very important part of his solution to that is to expand the use of natural gas, which US has an abundant reserve.
That makes him a marginal commentator for the relationship with China.
I guess the statement that China companies could drill in the gulf of Mexico but the US companies cannot does bother him a little. Pickens was seen as an investor in BP plc. (BP, Financial), and he bought more shares in the company in 3Q10.
One advice he gave in the following interview is that he thinks the oil price is “going up”. It may go up and above $100 a barrel higher in the first quarter, as he predicted.
Check out Pickens’s stock portfolio by clicking on T Boone Pickens
He does not really care much about the rest. He has his eyes on the fact that half of the US’s trade deficit is caused by the oil imports. And a very important part of his solution to that is to expand the use of natural gas, which US has an abundant reserve.
That makes him a marginal commentator for the relationship with China.
I guess the statement that China companies could drill in the gulf of Mexico but the US companies cannot does bother him a little. Pickens was seen as an investor in BP plc. (BP, Financial), and he bought more shares in the company in 3Q10.
One advice he gave in the following interview is that he thinks the oil price is “going up”. It may go up and above $100 a barrel higher in the first quarter, as he predicted.
Check out Pickens’s stock portfolio by clicking on T Boone Pickens
