Well-know billionaire investor and oil man T Boone Pickens was on CNBC to discuss his outlook for oil and natural gas, what is driving the oil price down, natural gas prices and his outlook for two commodities.
-- What is driving oil down: China's economic slowdown, but it will not be going down much, may be another $5.
-- We have a lot of oil in strategic petroleum reserve. We can release half of it; we don't need that much reserve.
-- Other sources discovered in U.S. are also putting pressure on oil price.
-- Natural gas will be about $4 by the end of year.
-- Thinks Obama does not have any plan for energy. Romney has a better plan.
Credit and source: www.cnbc, CNBC
Here is the video:
-- What is driving oil down: China's economic slowdown, but it will not be going down much, may be another $5.
-- We have a lot of oil in strategic petroleum reserve. We can release half of it; we don't need that much reserve.
-- Other sources discovered in U.S. are also putting pressure on oil price.
-- Natural gas will be about $4 by the end of year.
-- Thinks Obama does not have any plan for energy. Romney has a better plan.
Credit and source: www.cnbc, CNBC
Here is the video:
