Billionaire Investor Boone Pickens was on CNBC to discuss oil prices, energy resources and the world energy supply and demand. He said, "Tightening oil production worldwide could mean prices hitting $148 per barrel this summer. He said not even spare capacity from Saudi Arabia would be enough to make up the difference amid increasing sanctions against Iranian oil."
He also said the U.S. is the cheapest energy source in the world and energy prices in the U.S. are one of the lowest. He said "We have the cheapest oil by 20 percent, and we have the cheapest natural gas by 80 percent, and we have gasoline at $4, Europe at $9. So, I don’t understand why people are complaining."
Here is the Kudlow report video:
Here is the Fast Money video:
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