T. Boone Pickens Oil Targets For 2009 and 2010 (CLNE)
Today marked the one-year anniversary of the launch of The Pickens Plan. Oil magnate T. Boone Pickens was giving a large update and gave his oil targets for 2009 and 2010 in a CNBC interview early this morning. He is…
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On wind, there is a change now that natural gas is so low and it has driven the cost effectiveness down. Pickens is calling for $75.00 oil by the end of this year. He is sticking with an earlier target of $80 to $85 per barrel as an average price for 2010.
With oil trading under $65 this morning, this might sound bullish for oil and energy prices. But it is far less bullish and far less aggressive than what Pickens has been known for.
Jon C. Ogg
July 7, 2009
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