Boone Pickens was wrong!

Looks like Boone Pickens is eating Crow today after his statement that oil would not fall below $100.

Last I checked today it fell to the $95 range.

With someone that accurate maybe people should be leary about his energy plan.

WOAH! SOPER!

Where did that come from?

Didn't you guys get a hurricane or something?

Soperbrew said:

Looks like Boone Pickens is eating Crow today after his statement that oil would not fall below $100.

Last I checked today it fell to the $95 range.

With someone that accurate maybe people should be leary about his energy plan.

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Yeah, and the DOW lost 500 amid more finaclial fiascos!

At this rate, we'll all be able to afford the gas to get to the unemployment office!

BigKahuna said:

WOAH! SOPER!

Where did that come from?

Didn't you guys get a hurricane or something?

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Guess I'm getting adventurous.

Pickens was wrong- 90% of the opinions I have read have been that oil will go to 60-70 and stay.

Thats still bad news for the Saudis who know that above 45$ alternative energies are profitable.

There is a story floating around about Picken's Plan being a plot straight out of a Hollywood movie. He got lawmakers to give him his own township so he could use eminent domain under the guise of this wind farm idea to run cables but really use the cable path to sell Aquifer water to major cities in the South.

I really don't know much about Boone Pickens. The only thing I've seen is his TV commercials, I thought he was a politician or something. Now that his name has came up again I took a look and know a little more about the guy.

TxBrew said:

There is a story floating around about Picken's Plan being a plot straight out of a Hollywood movie. He got lawmakers to give him his own township so he could use eminent domain under the guise of this wind farm idea to run cables but really use the cable path to sell Aquifer water to major cities in the South.

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Boone's Farm?

Soperbrew said:

Looks like Boone Pickens is eating Crow today after his statement that oil would not fall below $100.

Last I checked today it fell to the $95 range.

With someone that accurate maybe people should be leary about his energy plan.

Click to expand...

Probably so, but last time i checked he has been right more than he has been wrong and he has more money than everyone on this board combined to prove it.

Professor Frink said:

Boone's Farm?

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It's up on Strawberry Hill.

Here is the link FYI ...

www.dcexaminer.com >> Timothy Carney

The basic story amounts to this: Pickens, thanks to favors from state lawmakers whose campaigns he funded, has created a new government whose only voters are two of his employers; this has empowered Pickens to more cheaply pump water from an aquifer and, by use of eminent domain, seize land across 11 counties in order to pipe the water to Dallas. To win environmentalist approval of this hardly “sustainable” practice, he has piggybacked this water project onto a windmill project pitched as an alternative to oil.

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TxBrew said:

Here is the link FYI ...
www.dcexaminer.com >> Timothy Carney

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Yep, sounds like he is a smart man, competent in working through problems and in general an American business man. Speculation on oil was way overdone, oil 148, nat gas was 13 or so, way out of wack.
With all of this forced de-leveraging commodities are falling through the floor. Not good if you own metal and energy stocks but hey, I'll just pour another HB.

So WHEN did this drop happen? When I was driving home from work Gas was still over $4.50 a gallon 'cause of the Hurricane. Though how the hurricane caused the price of the gas ALREADY in the tanks of the Gas station to suddenly need to cost more, I still don't understand...

When people talk about T-Boone, I always think of Slim Pickens...

[youtube]9ynY5NvYsZY[/youtube]

With major ports out, we see the following:

1. World oil drops, because the USA can't import as much.
2. US gasoline goes up for the same reason.
3. Diesel prices drop, because we can't EXPORT it.

This summer, we had the first major wind power outage. Just plain luck the wind dropped slowly enough that the other plants could take up the slack. If Boone's farm gets built, there won't be enough extra capacity in the SW grid to cover an outage.

MikeFlynn74 said:

Pickens was wrong- 90% of the opinions I have read have been that oil will go to 60-70 and stay.

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90% of the opinions two months' ago were that crude was going to $200 and probably not stopping. Just sayin', it's amazing how quickly the conventional wisdom changes.

Judging by his income level, I'd say he's right more often than wrong.

But don't be fooled by his "plan" like any good business proposition, he's doing it for his own financial gain. Not saying that we shouldn't move towards alternatives... just that it's naive to follow him blindly.

Well Pickens was WRONG, in that he predicted that Oil would go up to $150 on the last run. It topped out at what $147?
DAMM A$$h0le.... He was off by $2. Last time I listen to him.
In the world today, nothing big gets done unless you con everything into thinking it was a good idea, then they curse you and then make you saint. Or they just send you to jail, or shoot you in places like Russia or China.
Most retire with a few billion dollars and are forgotten to history.
Personally, I'm still in shock that the taxpayer has been forced to pick up hundreds of billions of dollars lately, and everyone seems to be happy?
Maybe I just need more beer, or "Jones Town cool-aid" to fully understand it.