Skip navigation
Oil Video Gallery
The IEA said the world must spend $26 trillion to meet expected energy demand to 2030 at its annual World Energy Outlook...
Austrian energy group OMV posted better-than-expected earnings for the third quarter Tuesday. CEO Wolfgang Ruttenstorfer...
Inside the market rally, with Tony Dwyer, FTN Equity Capital Markets; Linda Duessel, Federated Investors; and CNBC's Bil...


Current DateTime: 05:46:21 10 Nov 2009
LinksList Documentid: 24355697

FEATURED QUIZZES


Current DateTime: 05:46:21 10 Nov 2009
LinksList Documentid: 33793611

Current DateTime: 05:46:21 10 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

powered by digg
Pickens Predicts $140 Oil When Economy Recovers
By: Brooke Sopelsa, Writer/Producer | 13 Jan 2009 | 11:05 AM ET
Text Size

Billionaire oil tycoon Boone Pickens, chairman of BP Capital, predicts oil will reach $75 a barrel within a year and go back up to $140 a barrel when the global economy turns around.

Pickens told CNBC importing 70 percent of our oil poses a significant threat to the U.S. economy, and he expects energy independence has a better chance under the Obama administration.

Pickens is taking his renewable energy plan—the "Pickens Plan"—back to Capitol Hill today. He forecasts his plan will create 138,000 jobs within a year and 5 million jobs within 10 years.

More news from CNBC.com:

© 2009 CNBC.com
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • Do free market libertarians really believe what they say about ethics and shareholder value? The Big Money takes a look.
  • Jim Cramer
  • Cramer did the research and found eight stocks that lead the pack. Read on to get his top picks.
  • On the anniversary of the fall of the Berlin Wall, many in the former Eastern Bloc recall communism fondly.
  • With prices well below peak, gems could add some sparkle to you investments.
  • From politicians to CEOs to companies, here's your chance to vote for the winners and losers of 2009.
  • The health care reform bill that passed the House on Saturday will have a much harder time in the Senate.
ADD COMMENTS
Remaining characters


Current DateTime: 05:26:23 10 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 01:02:37 10 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 01:17:18 10 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 01:02:37 10 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters