T.Boone Pickens see natural gas at $7

Texas billionaire oilman, T. Boone Pickens  added his voice to those calling for a $7.00 natural gas price within a year – nearly double its current price. Speaking at a sold out conference arranged by the Calgary Chamber of Commerce, Mr. Pickens told the 770 attendees:

“I bought a 12-month strip for $6.02, and when I did it, I said I’m going to make $1 off of it. So I think the average price next year will be $7″

Mr. Pickens has been making headlines promoting his “Pickens Plan” which intents to provide 20% of the USA’s electric needs from wind power and divert natural gas towards the transportation network. The shift in power usage would result in a reduced consumption and reliance on oil from insecure suppliers and reduce the carbon emissions. Mr. Pickens has invested heavily in US wind farms and was apparently looking at a wind investment in Alberta.

At the time of this article natural gas was priced at $4.07 (July).

Globe and Mail: “T. Boone Pickens bets on natural gas”