|
CNBC'S MOST SHARED
- A Goldman Trading Scandal?
- 'We're in the Middle of a Crash': Black Swan
- Alaska Governor Sarah Palin Will Resign
- Malaysia PM Speaks to CNBC
- Latvian Banker Taking Souls as Collateral
- The Threat of Ballooning Pensions
- SEC May Reinstate Rules for Short-Selling Stocks
- Lehman CEO: Firm Deserved Bailout or 'Wind Down'
- Market's Monday Blues
- Charting Gold & Crude Oil
- US Service Sector Slows Down Contraction In June
- GM A Step Closer To Exiting Bankruptcy
- Ex-Goldman Programmer Must Post $750,000 Bail
- Farrell: Don't Head For The Exits Yet
- Obama's Visit To Russia Yields $1.5 Billion in Deals
- Swings in Price of Oil Hobble Forecasting
- Lehman CEO: Firm Deserved Bailout or 'Wind Down'
- Ricketts And Tribune Reach Deal to Buy Cubs-Source
- Facebook Director Sees 'Billions' in Revenue in 5 Years
- Busch: Summertime Blues Hits Investors
- Chadwick: Recession and Scandals Pave the Way for Romney 2012
- Art Cashin: The S&P's 'Head and Shoulders' Number
- Michael Jackson: Death And Taxes
- Is Andy’s Mojo Back? We Asked Him
- GM A Step Closer To Exiting Bankruptcy
- Schork Oil Outlook: The Fear Trade
- Market's Monday Blues
- Farrell: Don't Head For The Exits Yet
There's no end in sight for the rise in crude oil prices, according to BP Capital CEO Boone Pickens.
Pickens said on Wednesday morning's "Squawk Box" that record-breaking oil prices are doing nothing to affect demand and will continue to climb.
"Within a year you're going to see $100 oil," the Texas billionaire said. "It's going to get very dicey here in the fourth quarter."
Pickens attributed the rise in oil in large part to a weak dollar and said Kurdish unrest in northern Iraq is much less a factor than basic economics.
"We've never been where we are today at $87 a barrel and we're still whistling along. Everybody seems to be, 'So what? We can handle $87' " he said. "I don't know where the world chokes on the price."
He also said that when factoring in inflation, oil prices are close to where they were in 1980.








