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| Pickens Betting on Oil and Natural Gas, Playing Both Long Term - June 3, 2009 |
T. Boone Pickens while speaking at a panel sponsored by Time Warner noted that he believes that oil
and natural gas prices will continue to rise. He also commented that natural gas prices should rise, but he
said that he is long on natural gas, seeing it as a more efficient and wise opportunity for America.
Pickens said that he was betting on both increases, and he is playing both commodities long attempting to
make more money on America's dependence on oil.
Earlier this year, Pickens commented he thought oil would hit $75 per barrel, and it has already hit $73
per barrel. He has not changed his price estimates yet to a number, but he said the price would increase.
The Oxen Group is not affiliated with T. Boone Pickens, BP Capital Management, or any of their affiliates.
and natural gas prices will continue to rise. He also commented that natural gas prices should rise, but he
said that he is long on natural gas, seeing it as a more efficient and wise opportunity for America.
Pickens said that he was betting on both increases, and he is playing both commodities long attempting to
make more money on America's dependence on oil.
Earlier this year, Pickens commented he thought oil would hit $75 per barrel, and it has already hit $73
per barrel. He has not changed his price estimates yet to a number, but he said the price would increase.
The Oxen Group is not affiliated with T. Boone Pickens, BP Capital Management, or any of their affiliates.
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