Mr Pickens was just on CNBC's closing bell segment and basically said the words out loud. Peak world production. Demand outstriping supply by the 4th quarter, maybe sooner. No excess production coming on line anywhere. He predicted 60$/bbl by the end of the summer and 3+/gallon here in the states this year. This guy is not usually wrong when it comes to this stuff.

It doesn't get any more mainstream than this. Maria Bartiromo didn't quite get what he was saying I think. She asked even though there has been a good run amongst energy stocks as of late when will there be a pullback? T. Boone didnt even miss a beat, he said he didnt think there will be one!

WOW! I wish i would have seen that!

I keep CNBC on in the background around the house when Im doing stuff. Caught that he would be on today this morning, so I made it a point to sit and listen. Made my duaghter listen too. He actually suggested investment in SunCor as one of his favorites.

Many of the CNBC idiots view oil prices as just another market or stock ticker. So many of them keep referring to the oil market as in a "bubble" similar to internet stocks or housing prices. They really just do not understand the concept of oil depletion causing widespread issues for society at large.

Boone Pickins is the most compromised piece of--never mind. He's crediting peak oil because he can make money off the theory, period, end of story, it has nothing to do with honesty. The truth is only approached obliquely, by the mainstream when some creep like Pickens stands to make a fortune by inadvertantly touching on it.

threadbear,

While I don't deny your premise, I do raise the BS flag on that post. Pickens, whether you like him or not has been right far more than he is wrong, whether it benefits him or not. He has been recognized as one of the old heads that knows what he is talking about.

His take on this seems to be right on the money. In the end I guess it is possible he is manipulating us , just like you would probably say the government and all the other large oil corporations are too. Frankly I don't believe that. It's a matter of opinion really and I don't agree with yours.

The problem in this and other matters is that the people who are most qualified to make predictions on any given subject are often the ones who stand to gain or lose based on the outcome. It only makes sense; if you're in the oil business you'll make sure you know everything you can about oil, and that will leave you in a good position to make predictions. If you start discounting the opinion of everyone with a vested interest, you won't have much left to go on.

Caveat emptor.

I tend to take whatever Mr. Boone Pickens say with a pinch
of salt, given that he is really not impartial at all. He has a pony
in the game and would say anything to make profit.
Knowledgeable people say he has large long open positions
in crude 2010 and later, so he is sitting pretty.
That is not to say he is wrong, but that does not mean he is
entirely right, either.

Cheers,

Dude:
Hate to say that, but Mr. Boone Pickens is actually helping, since he is one of the market drivers to the price going up. The only way the economy and the society can notice the issue of hydrocarbon depletion and prepare for a transition is via market signals such as high energy prices, which will rise to a backstop level of an alternative replacement. We currently do not know what this is, it could be a demand destruction, massive die-off, a new energy source, whatever.

The only way this could happen is if elements like Mr. Boone Pickens drive the price up. If you think that you just mention hydrocarbon depletion to people and they slap their foreheads and start riding bycicles to work and install solars and windmills, you are in for a big surprise. The only way to wake people up is to hit them where it hurst most - IN THE POCKET!

In the process, people like Mr. Boone Pickens have to make money, which is in a way a fee paid to them by the society for being woken up to the reality. Whether this is moral or ethical or fair is same as asking "How many angels can dance on the head of a needle?"
I challenge anyone to dispute what I just said.

Well, I am sitting right beside Boone, long in 2010 and 2011 - I bet half of my life savings on long oil. So go pony.

What's your zip code?

Mr. Pickens is an old man and a multi-billionarie---you actually believe a man so rich who will likely be dead by 2010 has anything to gain!!! He is telling the truth -- if all of you that deny him ----would do your homework and drum up some courage---- you would believe him also.

Your naivete on this issue, is none of my concern, but others should be protected from it.

I actually think there is something to peak oil. However, I know there are a lot of scumbags out there anxious to turn a major challenge into a nightmare of manipulation (150 bucks a barrel, overnight) to make a tidy profit, before they quickly pull out of the game. I don't trust people like Pickens, and I suggest others do the same.

Though I have some money in energy stocks, I would NEVER place it all in oil. How on earth can anyone know if this isn't the biggest sucker's game on the planet right now. Big Oil is squeezing every last cent out of the average Joe, getting him to pay high prices at the pump, and then encouraging him to invest in energy stocks with the change that's left over. And who better a mouthpiece for this bunch of hoods, than Pickens?

While all this is happening, companies like BP (Beyond Petroleum) form a consortium of **"oil companies concerned about peak oil" and through their research and development (using average Joe's lunch money) come up with a reasonable alternative. Who gets left holding the bag?

This has nothing to do with Peak Oil, and everything to do with manipulation. Peak cheap oil is only a part of the equation, and now the theory has hit the mainstream, it's going to become part of Barnum's "Biggest Show on Earth" which will appeal to all the morons who just haven't had enough 401k pain yet.

**OCCPO--Can't you just see it now?

TBoone has used the word peak before. He has used it several times on CNBC. T B is also in the process of buying up water rights currently. He isn't out of the money game. He say's he is buying water, not oil.

What's fun to watch is the reporter's on the shows reactions when he uses the word "Peak" in relation to the oil price. They either play dumb or they go out of their way to change the subject and move on. No follow up ever.

What T B P is doing is using the word Peak in his interviews. Now, he may be gaining, but several here are investing because they believe that it will benefit them. Many old timers remember T B. and the same goes for Jan Lundberg. When you can use names like that in explaining Peak oil to joe schmoe, it isn't a negative in my opinion.

Matt Simmons is about to make some money doing it. He will hit the circuit soon for promotion.

So where's the beef imo

His motivation for talking about Peak oil is irrelevant. He will either be right or wrong. The question is where is he putting his own money? If he doesn't follow his own advice, no-one else will. It would appear, if he is so rich, that he has been right many times.