T Boone Pickens

  

T Boone...is one very smart oil man...lives in Texas...been in oil all his life.

He says things are going to start to get interesting in the hydrocarbon area this fall. Current global oil production is maxed out at 85,000,000 barrels per day. If you believe in peak oil as we do..then this falls projected demand globally at 86,000,000 barrels per day will not sit well with the markets

Additionally, refineries are running flat out globally at around 94 percent. That can't continue indefinitely as well as having countries like Iran importing 40% of their (refined) gasoline...what happens when they can't get any gas?

All over the world foreign governments are dramatically subsidizing the cost of local gasoline. They do it to contain inflation and keep their populations happy...they are losing billions of dollars...this too can't continue indefinitely.

Yet everyone is sleeping through this crisis in the making.

Barkly seen here is tired from the 4th of July long weekend....but his savings are working hard for him....oil near all time highs today again!