$80 Oil
Boone Pickens, the hedge-fund manager who has correctly predicted rising energy prices in the past two years, said crude oil will climb to $80 a barrel before the start of 2007.
``I think you're headed up on oil prices now,'' Pickens said today in a CNBC interview.
Pickens, who oversees more than $4 billion, predicted in April that oil was more likely to rise to $80 than fall to $60. Since then, U.S. oil futures have climbed to around $74 a barrel. Pickens predicted $50 oil in May 2004, when prices had just topped $40 and some analysts were predicting declines.
Boone Pickens, the hedge-fund manager who has correctly predicted rising energy prices in the past two years, said crude oil will climb to $80 a barrel before the start of 2007.
``I think you're headed up on oil prices now,'' Pickens said today in a CNBC interview.
Pickens, who oversees more than $4 billion, predicted in April that oil was more likely to rise to $80 than fall to $60. Since then, U.S. oil futures have climbed to around $74 a barrel. Pickens predicted $50 oil in May 2004, when prices had just topped $40 and some analysts were predicting declines.
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