T. Boone Pickens: Oil Prices Have Nowhere To Go But Up

This morning on CNBC, T. Boone Pickens said that he feels that oil prices have nowhere to go but up.

Natural gas, meanwhile, provides us with a chance to rebuild the economy while increasing U.S. security.

“I'm ready for hybrid, I'm ready for anything,” Pickens said. “I'll take ethanol.”

“Our industry has done a good job in this country,” he added. “We've increased our production by 400,000 or 500,000 barrels a day.”

Pickens said that Saudi Arabia is sending mixed messages on production; if the Saudi regime falls, he thinks that oil will cost $300 to $400 per barrel.

Pickens also said that he believes the Pickens Bill will be approved this year, and that the government must create a plan that focuses on domestic energy.