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CanadianValue
CanadianValue
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Energy Guru Boone Pickens Puts the Spotlight on Energy Prices

February 21, 2013 | About:

T Boone Pickens was on CNBC today sharing his wisdom on the energy markets. Here are some of his observations:

- A 2 million barrel per day increase in American oil production over the last three years is an incredible achievement.

- We can thank the energy industry for this who have given America this gift of lower energy costs despite a lack of help from government.

- We aren't going to get gas prices down until we don't have to rely on the OPEC cartel.

- OPEC has told us they want $100 to $115 per barrel, and we have seen OPEC production drop from 32 million barrels to 30 million barrels per day to achieve this.

- OPEC isn't trying to gauge us; they need $100 oil to pay for their budgets.











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CanadianValue
http://valueinvestorcanada.blogspot.com/

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