lobsterboy

T. Boone Pickens Says Oil is Going Higher

Who cares about whether a person drive 55 or 70, I don't think that was the point of this article.
Jeez, T bone pickens was wrong with his short in Oil. If he held on until now he was going through some serious pain. I think he made that short call when it was $90 a barrel now pushing $117. Obviously his return for the quarter reflects that.
He might be trading this thing backwards now, IMHO it's probably going to push upwards the lower 120's and pull back for now.
I would agree that the falling dollar vs. long oil is the hedge that money managers are using. The problem with this whole scenario it that inflation is now a problem and it will become will become much worst before this is over.