msantos
06-19-2009, 06:53 AM
http://www.cleanmpg.com/photos/data/2/Canadian_Flag.jpg T. Boone Pickens bets on natural gas (http://www.theglobeandmail.com/globe-investor/t-boone-pickens-bets-on-natural-gas/article1186003/)
http://www.cleanmpg.com/photos/data/501/T_Boone_Pickens.jpgNathan VanderKlippe - THEGLOBEANDMAIL (http://www.theglobeandmail.com) - June 18, 2009
Mr. Pickens sees Canada as the next stop in his Natural Gas evangelism. However only the market prices for the commodity will tell if people are listening... --Ed.
T. Boone Pickens expects natural gas (NG-FT 4.130.040.88%) prices to hit $7 (U.S.) by next year, nearly double their current value, the Texas oilman told a Calgary audience on Wednesday.
“I bought a 12-month strip for $6.02, and when I did it, I said I'm going to make $1 off of it. So I think the average price next year will be $7,” he said.
Natural gas spot prices rose nearly 10 per cent Wednesday, but remain at $4.17 per thousand British Thermal Units.
Mr. Pickens said he is also looking to Alberta for a potential wind investment. He gave few details, save that he has planned a meeting during his trip to Calgary for a discussion along those lines.
“I mean, if it's a better deal in Alberta than it is in Texas, I'd be more interested in Alberta than I would in Texas. I want to take the best deal I can wherever I invest,” he said.
His main focus, however, remains on U.S. energy security. Mr. Pickens has pushed U.S. lawmakers to create subsidies for diesel-powered semi-trucks, as part of his work to urge a new energy plan for the U.S., which he believes must dramatically reduce its dependence on foreign oil. ... http://www.theglobeandmail.com/globe-investor/t-boone-pickens-bets-on-natural-gas/article1186003/
http://www.cleanmpg.com/photos/data/501/T_Boone_Pickens.jpgNathan VanderKlippe - THEGLOBEANDMAIL (http://www.theglobeandmail.com) - June 18, 2009
Mr. Pickens sees Canada as the next stop in his Natural Gas evangelism. However only the market prices for the commodity will tell if people are listening... --Ed.
T. Boone Pickens expects natural gas (NG-FT 4.130.040.88%) prices to hit $7 (U.S.) by next year, nearly double their current value, the Texas oilman told a Calgary audience on Wednesday.
“I bought a 12-month strip for $6.02, and when I did it, I said I'm going to make $1 off of it. So I think the average price next year will be $7,” he said.
Natural gas spot prices rose nearly 10 per cent Wednesday, but remain at $4.17 per thousand British Thermal Units.
Mr. Pickens said he is also looking to Alberta for a potential wind investment. He gave few details, save that he has planned a meeting during his trip to Calgary for a discussion along those lines.
“I mean, if it's a better deal in Alberta than it is in Texas, I'd be more interested in Alberta than I would in Texas. I want to take the best deal I can wherever I invest,” he said.
His main focus, however, remains on U.S. energy security. Mr. Pickens has pushed U.S. lawmakers to create subsidies for diesel-powered semi-trucks, as part of his work to urge a new energy plan for the U.S., which he believes must dramatically reduce its dependence on foreign oil. ... http://www.theglobeandmail.com/globe-investor/t-boone-pickens-bets-on-natural-gas/article1186003/