Boone Pickens: Reason for High-Price Oil -- Supply / Demand

Flashback:

Boone Pickens said oil will trade in the $150 range, July 8, 2008, just as oil was falling; it fell $8 in two days; down to $131.  But he says oil will stay in $150 range; and he says if supply/demand balances out, could see $100 oil in two years (2010).  -- CNBC story.

That is a memo in my Yahoo!Calendar that pops up every six months.

So, the answer to a question I posed earlier, one could argue, according to Boone Pickens, is all about supply and demand.