Oil May Hit $75: Pickens
Oil prices are likely to hit $75 a barrel this year, and rise further next year, T. Boone Pickens, founder and Chairman of BP Capital Management, told CNBC Tuesday.
"We're going to see $75," Pickens told "Squawk Box."
Prices can go as high as $85 or even $88 in 2010, he said, and did not rule out a new run to $145 for oil.
Pickens reiterated his stance that the US should ask for Iraqi oil.
"We should come out of Iraq with a call on Iraqi oil," he said. "America's entitled to that, for the people we lost there."
"We haven't got much out of Iraq that I can see that's helped America," Pickens added.
- Watch the Boone Pickens interview here
- Slideshow: The 10 Hottest Commodities of 2009