BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Pickens gains 79%, not nearly enough to matter]]>http://www.bloggingstocks.com/2009/07/20/pickens-gains-79-not-nearly-enough-to-matter/http://www.bloggingstocks.com/2009/07/20/pickens-gains-79-not-nearly-enough-to-matter/http://www.bloggingstocks.com/2009/07/20/pickens-gains-79-not-nearly-enough-to-matter/#commentsFiled under: ,

A 79% return is both astounding and not enough. T. Boone Pickens has seen his energy funds push that much higher this year, but it comes on the heels of 2008, in which his firm, BP Capital, lost more than 90% of its value - plunging from assets under management of more than $4 billion to $500 million. The Energy Equity fund lost 64% of its value, with the Energy Fund off 98%.

The 54% decline in oil prices from last summer - from a record high of $147 - not only pushed Pickens' investments lower but prompted him to exit positions and, in October, lift restrictions on withdrawals by his clients.

Continue reading Pickens gains 79%, not nearly enough to matter

Pickens gains 79%, not nearly enough to matter originally appeared on BloggingStocks on Mon, 20 Jul 2009 11:20:00 EST. Please see our terms for use of feeds.

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Every once in a while, one comes across a story-behind-a-story - - one that represents an innovative idea with promise.

One such idea surfaced recently when billionaire oilman and maverick T. Boone Pickens, while forecasting $200-300 per barrel oil in 10 years to marketwatch.com, also expanded on another project: getting 350,000 18-wheeler trucks converted to natural gas through a federal subsidy program.

Continue reading T. Boone Pickens' better idea: natural gas-fueled trucks

T. Boone Pickens' better idea: natural gas-fueled trucks originally appeared on BloggingStocks on Tue, 10 Mar 2009 15:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Congressdieselenergy policyinthenewsnatural gasoilPickensT Boone PickenstrucksTue, 10 Mar 2009 15:20:00 EST<![CDATA[T. Boone Pickens still bullish on oil: Sees $200-300 oil in 10 years]]>http://www.bloggingstocks.com/2009/03/06/t-boone-pickens-still-bullish-on-oil-sees-200-300-oil-in-10-y/http://www.bloggingstocks.com/2009/03/06/t-boone-pickens-still-bullish-on-oil-sees-200-300-oil-in-10-y/http://www.bloggingstocks.com/2009/03/06/t-boone-pickens-still-bullish-on-oil-sees-200-300-oil-in-10-y/#commentsFiled under: , ,

The U.S.'s country & western culture has a saying that goes, 'I was country, before country was cool.'

Well, billionaire oilman T. Boone Pickens was "bullish on oil, before being an oil bull was cool." And, despite the bursting of the leverage-influenced oil bubble, during which oil plunged from $147 to below $40 in less than a year, Boone-Pickens is still bullish on oil, long-term.

Continue reading T. Boone Pickens still bullish on oil: Sees $200-300 oil in 10 years

T. Boone Pickens still bullish on oil: Sees $200-300 oil in 10 years originally appeared on BloggingStocks on Fri, 06 Mar 2009 10:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>alternative energyAlternativeEnergyfeaturedgasoline pricesoil pricesOPECPickensT. Boone PickensFri, 06 Mar 2009 10:30:00 EST<![CDATA[Should Congress invest $50 billion in T. Boone Pickens' Plan to expand wind power? ]]>http://www.bloggingstocks.com/2008/10/30/should-congress-invest-50-billion-in-t-boone-pickens-plan-to/http://www.bloggingstocks.com/2008/10/30/should-congress-invest-50-billion-in-t-boone-pickens-plan-to/http://www.bloggingstocks.com/2008/10/30/should-congress-invest-50-billion-in-t-boone-pickens-plan-to/#commentsFiled under: , , ,

If you're an economist, like David H. Wang, you wake up some days muttering, "What has happened to the industrial base in the U.S. economy?"

The auto companies are practically on life support, and other sectors are paring-back operations, even as international competition mounts. Hundreds of thousands of jobs have been lost. How did this happen? Eight more years of industrial base decline without a viable plan to counteract it? And now, as a result of the financial crisis and de-leveraging, the prospect of a period of less-available credit threatens to delay economic recovery.

Well one remedy for the above, Wang argues, is to invest in the industrial sector via investing in the United States' infrastructure. And what's one project worthy of consideration? Investor T. Boone Pickens' plan to substantially increase domestic wind power via his Pickens Plan, Wang argued.

Pickens' investment fund has fallen on tough times, as of late. His BP Capital investment fund has shrunk by 60%, due to energy sector losses, and will drop to about $500 million after redemptions, by week's end, Pickens told CNBC Thursday. Pickens, who sees oil sector consolidation, expects the price of oil to recover to $100 per barrel in 2009. Oil Thursday closed down $1.81 to $65.69 per barrel.

Pickens Plan: a better investment than AIG?

Wang is less certain about a $100 oil price in 2009, but he is certain about the merit and benefits from investing in Pickens' project, and his argument is compelling. (Wang added that he does not have an investment stake in any power/energy company.)

Continue reading Should Congress invest $50 billion in T. Boone Pickens' Plan to expand wind power?

Should Congress invest $50 billion in T. Boone Pickens' Plan to expand wind power? originally appeared on BloggingStocks on Thu, 30 Oct 2008 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Congressfeaturedgdpinfrastructurejob creationjobsoilPickensPickens Planrenewable energyrenewablesT. Boone PickensU.S. economywind millswind powerThu, 30 Oct 2008 18:00:00 EST<![CDATA[Pickens sticks with alternative energy plan despite headwinds]]>http://www.bloggingstocks.com/2008/08/15/pickens-sticks-with-alternative-energy-plan-despite-headwinds/http://www.bloggingstocks.com/2008/08/15/pickens-sticks-with-alternative-energy-plan-despite-headwinds/http://www.bloggingstocks.com/2008/08/15/pickens-sticks-with-alternative-energy-plan-despite-headwinds/#commentsFiled under: , ,

T. Boone Pickens does not care if the price of oil is falling. His opinion is that most of the drop is over and that his plan for wind energy is still viable and necessary for future U.S. independence from crude imports.

Pickens could not be described as faint-hearted. Rumors are that his $7 billion BP Capital hedge fund took a 35% haircut in July by betting the wrong way on oil and gas. It is a paper loss, but must sting nonetheless.

Some argue that Pickens is old and monumentally rich so gambles on wind and oil don't mean much for his own fortune. That could indicate that his conviction about wind-powered energy is not based on greed. Since he has spent his life aggressively accumulating wealth, that is not likely.

What is likely is that he thinks oil prices may stay very high and that his alternative energy will do remarkably well because it is infinitely renewable. If so, it is too bad his hedge fund cannot invest a few billions into wind technology. He can't afford another 35% loss. At some point his convictions may put him in the poor house. At least as it would be viewed by a billionaire.

Douglas A. McIntyre is an editor at 247wallst.com

Pickens sticks with alternative energy plan despite headwinds originally appeared on BloggingStocks on Fri, 15 Aug 2008 10:40:00 EST. Please see our terms for use of feeds.

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Billionaire oilman T. Boone Pickens has launched a new campaign to substitute at least a portion of the U.S. imported oil with domestic natural gas.

Pickens would like renewable energy sources, wind power chief among them, to run electric power generation plants currently run by natural gas/coal, and use that natural gas to fuel natural gas vehicles.

Economist Glen Langan told BloggingStocks Thursday the PickensPlan is commendable for a number of reasons (it would lower the trade deficit, create domestic jobs, and decrease greenhouse gas emissions), but investors and readers should not view it as a panacea for the nation's transportation energy bill. "It could be a part of the solution, but it won't address the entire imported oil problem," Langan said.

Another oil saver: better engines

What's another key to reducing both imported oil and U.S.-produced oil consumption? Something that the U.S. auto sector has under-emphasized for more than a decade: technology-driven increases in car/vehicle efficiency, Langan said.

Langan said vehicle weight reduction, transmission/drive train improvements, enhanced aerodynamics, and the biggest factor -- increased engine efficiency -- "have the potential to reduce oil imports by almost as much as the Pickens Plan, and the changes won't take 10 years to see the results."

Further, many of the mpg-enchancing technologies already exist, Langan notes; he suggested an additional federal tax credit for automakers to help them incorporate the changes sooner.

"The fleet [all vehicles driven in the U.S.] should average 25-27 miles per gallon right now. Currently we're at about 20 miles per gallon. With appropriate federal tax credits we could be at 30-32 miles per gallon in five or seven years," Langan said.

Continue reading Pickens Plan: One piece in U.S. transportation energy puzzle

Pickens Plan: One piece in U.S. transportation energy puzzle originally appeared on BloggingStocks on Thu, 24 Jul 2008 15:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>autoselectric carsgasoline pricesimportsmpgnatural gas carsnatural gas vehiclesoil pricesoil shockOilShockPickensPickens PlanT. Boone Pickenstradetrade deficitvehicleswind powerThu, 24 Jul 2008 15:30:00 EST<![CDATA[Oil on ice]]>http://www.bloggingstocks.com/2008/07/24/oil-on-ice/http://www.bloggingstocks.com/2008/07/24/oil-on-ice/http://www.bloggingstocks.com/2008/07/24/oil-on-ice/#commentsFiled under: , ,

It makes sense that if there are still large pools of undiscovered oil. Some of them would be under one or both polar ice caps. It turns out the Arctic is a great place to drill for crude.

According to The Wall Street Journal, "The Arctic contains just over a fifth of the world's undiscovered, recoverable oil and natural-gas resources, according to a review released Wednesday, confirming its potential as the final frontier for energy exploration."

The data from the study raises two questions. The first is who owns the rights? Russia claims some of them. So does Denmark. The U.S. is even making come claims for part of the territory.

The other issue is the standard environmental one. Will drilling in the Arctic endanger any wildlife, create oil spills, or disrupt the ice cap? Since the ice is melting due to global warming, that concern may not last for long.

As oil prices rise, it becomes more evident with each passing month there are deposits of oil off-shore, in protected lands, and in regions that could not be reached before because the technology did not exist.

Unfortunately, getting at the oil could involve years of legal battles. By then maybe the T. Boone Pickens windmill farms will be delivering vast quantities of energy and it won't matter.

Douglas A. McIntyre is an editor at 247wallst.com.

Oil on ice originally appeared on BloggingStocks on Thu, 24 Jul 2008 10:18:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>arcticdenmarkice capsIceCapsinthenewsoilpickensreservesThu, 24 Jul 2008 10:18:00 EST<![CDATA[T. Boone Pickens dedicating $58 million to alternative energy marketing]]>http://www.bloggingstocks.com/2008/07/11/t-boone-pickens-dedicating-58-million-to-alternative-energy-ma/http://www.bloggingstocks.com/2008/07/11/t-boone-pickens-dedicating-58-million-to-alternative-energy-ma/http://www.bloggingstocks.com/2008/07/11/t-boone-pickens-dedicating-58-million-to-alternative-energy-ma/#commentsFiled under: ,

T. Boone Pickens has been in the national media quite a bit lately. The Texas oil billionaire, who now commands a hedge fund in Dallas, has given hundreds of millions to his alma mater -- Oklahoma State -- and now is spending nearly $58 million of his own money to convince the U.S. to get off foreign oil and into alternative energy. Pickens is 80 now -- he is obviously not doing this for the money. Should we listen to him? Based on his outstanding business history, I'd say yes.

The oilman with decades of experience in energy futures and hedging predictions seems like he has turned his back on oil -- the precious juice that made him his fortune. But when someone with the successful past of Pickens says that the U.S. can't drill its way to success with more oil, we should probably listen.

Pickens began lighting up the media this week with advertisements on radio, in newspapers, on television and even a Facebook page and a complete YouTube channel. Picken's Plan is to reduce American dependence on foreign oil by one-third over the next ten years -- and he's fronting a good start off with his own money, which he's pouring mostly into wind energy. In fact, Pickens announced the world's largest wind farm last year, which he plans to build in Texas. Pickens, never one to not speak his mind, said "This whole thing, all it can do is get worse ... the only thing that could turn it around is global recession."

T. Boone Pickens dedicating $58 million to alternative energy marketing originally appeared on BloggingStocks on Fri, 11 Jul 2008 14:48:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>OSUPickensPickens oilmanPickensOilmanT.Boone PickensT.boonePickensFri, 11 Jul 2008 14:48:00 EST<![CDATA[T. Boone Pickens sees oil falling to $85 in Q2; backs alternative energy]]>http://www.bloggingstocks.com/2008/02/21/t-boone-pickens-sees-oil-falling-to-85-in-q2-backs-alternativ/http://www.bloggingstocks.com/2008/02/21/t-boone-pickens-sees-oil-falling-to-85-in-q2-backs-alternativ/http://www.bloggingstocks.com/2008/02/21/t-boone-pickens-sees-oil-falling-to-85-in-q2-backs-alternativ/#commentsFiled under: , ,

The oil market, to put it diplomatically, has not provided a great deal of encouragement lately for policy makers attempting to stimulate U.S. economic growth.

Further, time was when an $80 or $85 price would be considered unreasonably high, or even outlandish. But given oil's breakthrough and close above key, psychological resistance of $100 per barrel this week, $80 looks almost like an acceptable price.

Moreover, oil mogul and billionaire T. Boone Pickens says we may get there. Providing a ray of light for concerned business executives, consumers and public officials, Pickens, who accurately predicted oil's rise to $100 per barrel, told CNBC Thursday oil should drop $10-15 in the second quarter of 2008.

"I think oil's going to back off," Pickens said during the interview. "The weakest quarter is the second quarter. We'll drop $10 or $15 a barrel in the second quarter. I think we'll be back above $100 in the second half of the year."

Continue reading T. Boone Pickens sees oil falling to $85 in Q2; backs alternative energy

T. Boone Pickens sees oil falling to $85 in Q2; backs alternative energy originally appeared on BloggingStocks on Thu, 21 Feb 2008 16:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>alternative energy sourcesCaliforniaexportsfeaturedgasolinegasoline pricesGDPGreat Plainsheating oilimportsnatural gasoilOil pricesPickenssolar powerT. Boone PickensTexastradetrade deficitU.S. economywind powerThu, 21 Feb 2008 16:00:00 EST