T. Boone Pickens told broadcaster CNBC he expected crude oil prices to keeping going up. “I think we’ll get to $150 this year,” he said. Analysts at Birinyi Associates, Inc. today put his projections over the past two years against the movement in the price of oil. They concluded the oil investor’s views shouldn’t be ignored.
1 Was surprised oil went down this much (19 month low) still thinks oil will average $70 in 2007
2 Could exceed $70 in 2007
3 Oil will reach $75 before $55
4 Oil will likely reach $78 this year
5 Says $4.50 gasoline will be possible this summer
6 Oil will average $70 for rest of 2007
7 “No way you can be short oil”
8 Oil may surpass $100 on a geopolitical event and will rise to $80 within 6 months
9 $80 oil could push US into recession
1 0 Oil to retreat before hitting $100
1 1 Oil to hit $100 within a year
1 2 Oil to hit $100 within 6 months
1 3 $100 oil will be routine
1 4 Oil to decline by $10 to $15 in 2nd quarter, which would be to $83
1 5 Oil to stay above $100 in 2nd quarter
1 6 Reversed bet on oil and thinks it will now rise. Covered his short and is now long
1 7 Thinks oil wil rise to $150 by end of 2008
1 8 Thinks oil will go to $150 in 2008
– Graphic courtesy of Birinyi Associates, Inc.
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Tboone was correct in his assertion of the price of oil… for a time. then the oil companies realised that no one was buying any oil. Crazy prices only lead to a nice environmentally friendly conservation. Oil hovered at $150 yes, then crashed back down again when the reserves kept increasing.
- Posted by EnergyHere we are, and T boon was correct in his oil price prediction.
It shot up to the headline’s call for a while, then came back down, then back up. Oil companies are still making tons of money, with the unstable perception of the middle east and all.
To compare oil companies in all exchanges you can always visit a website like google finance, or this one that lets you check how corps are doing like this one:
http://www.stockmarketquotelist.com
- Posted by Stock Market[...] Afraid to Trade presents recent money flow shift affects hedge funds, saying: “Those who remained long commodities or energy and short financials were crushed in recent weeks.” What a month indeed, in the face of declining consumption, the market defied the bullish words of T Boone Pickens who expected crude oil prices to keep going up. [...]
- Posted by Jeflin’s Investment Carnival #1 | Jeflin's Investment BlogOil market still trying goes up as spekulan pressure. for a while it will around up from 136.00 to reach next target 147.17.
- Posted by DewaImmigration will obliterate any loss of demand, current immigration levels exceed 2%
- Posted by SmittyOil significantly spike previous high. Now $137.750 according to 261 FE, oil will be reach $164.14.
- Posted by DewaWhat will significantly effect for global economy.
Written my thoughts on the oil trend here.
- Posted by jeflinhttp://jeflin.net/2008/06/05/bull-versus -bear-battle-rages-on/
I am seriously doubtful about the demand-supply theory. At least one third of the current oil price is driven by speculation.
- Posted by jeflinas I predict before, oil just turn around 124.xx - 133.xx, this is consolidation area. any break this area may change tje minor trend
- Posted by Dewaif everyone just cuts back on gas and energy use 20 percent which is easy enough for most of us, it will collapse demand at the margin and bring oil back down. If done globally it will have a profound effect and the speculators will bet the other way further pushing down the price of oil rapidly.
- Posted by BrianIt will go up up up, I think $180 by year end, $250 year end 2009, they have declared economic war in the US, they know we will pay any prive until we all get 4 cylinder 1.6 liter engines, good luck on getting rid of the SUV’s.
- Posted by john taylorHe doesn’t know what he is talking about and I am not interested in his track record. This kind of reporting is useless. Why don’t your ask the President to do something about it. The republicans don’t have a chance this fall.
- Posted by T R NewmanMy happiest moment will be when I see all of you oil hucksters try to sell at the same time. I am going to buy a new digital camera and sit in the park to record your arrival with earthly belongings in shopping carts.Pickens types will win. While hyping hyping in public they are selling in private. They will sell until it hits $100 and then the hold cycle with the buying cycle setting in again at $57. You manipulated folks are going to make a few rich. The OPEC folks are the only ones recognizing the manipulation. I love the linear regression guy. A classic case of being logical with faulty logic.
- Posted by D.BarberJust by looking at the graph, we all know that oil prices will surely go up be it at $140, $150, or $200. Today, it peaked up to $134. So, a $150 prediction is not at all improbable. What we should look into are renewable sources of energy, not to replace oil completely but as alternative sources so as not to exhaust the present supply in oil.
http://www.efm.lk
- Posted by earl bumotadIt’s look like oil will heavy to break $135.xx, if so it will fall to 124.34 correction area.
- Posted by DewaI predict the upward trend to weaken, especially when notable speculators like Pickens come out to say such words, they are trying to offload their positions while encouraging the general public to go long on oil.
Oil will rise to $150 but profit-taking is due in the short term.
http://jeflin.net
- Posted by jeflinIndonesia has raised prices at the pump by nearly 30 per cent because of the surging cost of oil and gas on the global market, the government said.
- Posted by Sandy