T. Boone Pickens Still High On Oil... As Are All Speculators

[24/7 Wall St.]

24/7 Wall St. Daily News

Everyone wants to know if speculators are driving up oil prices. The answer from the speculators is "No, absolutely not! (wink, wink)" when they are asked. The Senate Energy and Natural Resources Committee held testimony today with billionaire T. Boone Pickens. Reuters has run a full excerpt of some of Pickens' comments. Most interestingly, Pickens noted that the world production has topped out at 85 million barrels per day with the United States using some 21 million barrels, and total demand being 86.4 million barrels per day. He also said that increased oversight of the oil markets from the Commodity... http://feeds.feedburner.com/~f/typepad/RyNm?i=MdHQ4I</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=MdHQ4I) http://feeds.feedburner.com/~f/typepad/RyNm?i=QsNJjI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=QsNJjI) http://feeds.feedburner.com/~f/typepad/RyNm?i=DEHkui</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=DEHkui)


complete story here... (http://www.247wallst.com/2008/06/t-boone-pickens.html)