Maria Bartoromo just had a quick interview with oil baron T. Boone Pickens. This was after the announcement that AT&T Inc. (NYSE: T) said it plans to spend up to $350 million over five years to buy more than 8,000 vans and trucks and will then convert them to run on compressed natural gas. Pickens didn’t note it, but this is right up the alley of his Clean Energy Fuels Corp. (NASDAQ: CLNE).
Pickens said that this is a monumental action by AT&T. He also noted that the US is the number 4 country in natural gas reserves. He thinks that the light duty vehicles in the US should go to batteries and the heavy trucks should run off natural gas. Again, this is the play that his Clean Energy Fuels Corp. (NASDAQ: CLNE) is based on.
Pickens is also predicted crude would hit $75 by the end of the year. He thinks there will be an announced OPEC production cut. He also thinks it will go higher in 2010 if you have a global recovery.
Pickens came out with the same prediction he recently gave:
- “$60 a barrel before $40….”
Here are our own picks of ENERGY STOCKS THAT SHOULD DOUBLE by the end of 2010. Clean Energy Fuels Corp. stock traded up 4% after the close to $5.15. Its 52-week trading range is $3.23 to $19.95.
As we noted before, “Pickens is Back! Or at least he thinks so.”
JON C. OGG
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