Stocks Fall as Crude Oil Surges on Middle East Woes
Global markets continue to reel as crude oil tests new limits, thanks to unsteady and/or disrupted production in North Africa and the Middle East. Oil prices in Europe and in the U.S. both crested the $100 per barrel mark in after-hours trading, and Asian stock markets responded by selling off in early trading Wednesday. From Continue Reading
Boone on CNBC
T. Boone Pickens appeared on CNBC this morning to discuss the recent surge in oil prices brought on by the unrest in the Middle East and North Africa. Boone “did the math” on how much oil we’re importing, where we’re getting it from, and how much we could reduce our dependence on OPEC oil by Continue Reading
America's Crazy Addiction to Oil Now Front-Page News
Turmoil in Libya pushed the price of oil to almost $120 in Europe this week and prompted discussion of the fourth major shock at the gas pump for American consumers since 1970, writes Joseph Lazzaro in Daily Finance: “Will U.S. policymakers ever learn? The inanity of the nation’s energy policy – indeed, nonpolicy – boggles Continue Reading
"Morning Joe" and the Pickens Plan
In a discussion about the rising price of oil because of the unrest in Northern Africa and the Middle East, the panel on MSNBC’s “Morning Joe” program discussed the Pickens Plan. Continue Reading
Today oil prices rose above $100 a barrel for first time since October 2008
Legendary energy executive T. Boone Pickens issued the following statement today in response to benchmark West Texas Intermediate crude rising above $100 a barrel for the first time since October 2008. “I predicted we would see $100 oil by end of the first quarter and now – less than two months into the new year Continue Reading
"Morning Joe" and the Pickens Plan
In a discussion about the rising price of oil because of the unrest in Northern Africa and the Middle East, the panel on MSNBC’s “Morning Joe” program discussed the Pickens Plan. Continue Reading
Price of Oil Soars as Strife Disrupts Libya
The loss of 300,000 to 400,000 barrels per day of oil production in Libya as well as further uncertainties about the violent civil war have driven the price of Brent crude up to $108 overnight, a three-year high. Continue Reading
Uncertainty in Middle East Hits America's Pocketbooks
As Middle East dictatorships are challenged and topple, the long-term result may be greater freedoms for millions of citizens in many countries. In the U.S., the effects are already being felt at the pump. America’s dependence on OPEC oil has been a fact of life for decades. Newspapers across the country are already singling out Continue Reading
UPS = LNG
United Parcel Service, one of the world’s largest express delivery companies, is moving into natural gas as a substitute for increasingly expensive diesel fuel for its over-the-road trucks. According to an article in the New York Times many trucking companies, “burdened by diesel prices that topped out at over $5 a gallon in 2008 and Continue Reading
Pickens Funds New Health Science Center
A $5 million donation by legendary energy executive T. Boone Pickens made it possible for Texas Woman’s University to expand its commitment to cutting-edge medical instruction by opening a health science institute in Dallas earlier this year. And Pickens was on hand to inspect his investment last week: talking with students, meeting with administrators, and watching demonstrations with Continue Reading