- Black Friday to Avoid Red Ink; Greenback Gets the Blues
- Bankruptcies Jump, Hitting Highest Level in Four Years
- AIG, Ex-CEO Greenberg Reach Pact to Settle Disputes
- Bank of America CEO Search May Extend Into 2010
- Steepest Black Friday Discounts, Revealed
- Fed to Counsel Moviegoers on How to Use Credit Cards
- 'Cancer of Fraud' Permeates Health Care System: Critics
- Where Do Pardoned Turkeys Go?
- US Mint to Suspend American Eagle Gold 1-Ounce Coins
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
MOST SHARED
- The Executive Job Search
- S&P Stocks Trading at New 52-Week Highs
- Where Do Pardoned Turkeys Go?
- Salvation Army's Kettles Now Credit Card-Ready
- Activision Prepares to Double Dip on ‘Modern Warfare 2’
- US Mint to Suspend American Eagle Gold 1-Ounce Coins
- Chinese Overcapacity is Worsening, EU Chamber Warns
- Trader Talk
- Black Friday: Bargain or Bust?
Text Size 
Oil billionaire Boone Pickens is sticking to his guns. Even though oil prices have declined since the beginning of April as Iran fears fade, the Chief Executive of BP Capital says he still thinks crude will be heading higher.
In an interview with On the Money's Melissa Francis, Pickens tells CNBC "I think the world is short of energy. There will be dips, but the trend is up." Pickens expects oil will "test the highs" around $78 before the end of the year. If there's a serious disruption of supply from Iran, "the sky's the limit." In late March, Pickens told us he expects oil will reach $75 per barrel before $55. The bottom line, according to Pickens, is that demand is growing as the global economy expands while the supply of oil remains fixed.
Pickens also predicts that nuclear energy "is the future" because it is "safe and cheap," if excessive regulatory hurdles can be cleared away. He also believes natural gas will become a "serious transportation fuel" in the future because when compared to gasoline it is relatively inexpensive.
Print
Email
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
- Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.
- How can you get out of debt and back on the road to recovery? Follow these ten steps.
Data is a real-time snapshot *Data is delayed at least 15 minutes