Wednesday, December 24, 2014

T. Boone Pickens Rages On CNBC: “I Am The Expert, Not You”, Says Oil Down Due To “Weak Demand”

“demand is down” – “lower demand is the main driver” – “rig count is gonna fall – drop 500 rigs in next 6-9 months”

Capex cuts coming… oil prices may be back at $90-100 Brent in 12-18 months but not without rig counts plunging.
At 4:15 Pickens starts to discuss Peak Oil… enjoy -
CNBC: “Peak Oil didn’t happen” ..
Pickens: “that’s all bullshit… I am the expert not you” CNBC: “well you’re not much of an expert if you thought Peak Oil happened”

Enjoy some real-life pushback on the narrative… (apologies for audio quality)

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