Flashback: July 8, 2008

The following note was placed on my Yahoo!Calendar back in 2008. It popped up today, as it does every three months to remind me where we were back in 2008 and what Boone was prognosticating.

July 8, 2008: Boone Pickens said oil will trade in $150 range. His prediction came 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).

Boone was talking about WTI, I assume. So, all this talk about the high price of oil needs to be put in perspective, I suppose.

On this date, April 8, 2008, WTI was $105, virtually unchanged from today.