The legendary oilman, who runs a multibillion-dollar commodities hedge fund in Dallas, appears frequently on CNBC to predict oil prices. He's often correct... "I think you're going to see $150 before the end of the year," Mr. Pickens told CNBC viewers Tuesday.
Sure enough, oil futures ended the day 1.6 percent higher at $129.07 a barrel, another record.
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If T. Boone is right -- and he has been in the past -- just as the world demand for oil has soared, the world is running out of the stuff. "Peak Oil" is a term that's been knocked around for decades by those who have believed that mankind has been speeding towards a brick wall with it's nearly total dependence on oil. They were proven wrong by the subsequent discoveries of large oil deposits. But, if Pickens is right the oil dooms-dayers are about to have their "I told you so" moment.
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