Boone Pickens On Oil and Solution to Egypt's Energy & Unemployment Problem

From the Wall St. Cheat Sheet, here are some thoughts from T. Boone Pickens on oil.

On whether Sauda Arabia is capable of producing 10 million barrels a day:
“Well, they’re about nine now and I don’t think it’s easy for them to do. They can’t produce 12. They may get it up to 10. I’m not sure they can hold 10 very long.”

On whether the Environmental Protection Agency and the Obama administration in general is at war with fossil fuels:
“I think probably so. But I can tell you what, you’re going to run the cost of gasoline, diesel, electricity, and power. You’re going to run it through the ceiling and I can tell you that people that cause that to happen, and the consumer that has to experience those increases. That consumer is the same guy that votes. And I can tell you when he figures out who ran all these costs up on him, he’s going to vote against him.”

On what country has the best plan for oil:

“China has got the plan. They’ve loaned money and they’re going to be paid back with oil; probably $50 or $60 a barrel. They have a huge advantage. And they have purchased a lot of oil. The Chinese always have a plan.”

Pickens doesn’t rule out $130 oil and he sees gas at $4 a gallon this summer.

I believe that the spike in gas prices had much more to do with the Great Recession than is generally conceded (post here). If Pickens is anywhere near the mark, we could easily see growth substantially curtailed and another recession is not by any means out of the equation.
-------------------------------------------------------------------------
Solar Cell Manufacturing Grant to Evergreen Solar & other US Solar Cell Companies for Egypt and other Middle Eastern countries to Offset Oil Production Decline

“The untold story behind Egypt's revolution is that oil production
in Egypt has drasticall­y declined in the past decade. As of 2010 Egypt began consuming all the oil that it extracts. Egypt no longer exports oil.
So for the past 15 years or so, Egypt's government has been raising less and less income with which to offer food and fuel subsidies to the teeming masses in the country's expansive slums. Today, Egypt is reportedly the world's largest wheat importer. In the past year or so, as net oil exports shifted down to zero,the food-probl­em became even worse for Egypt. So the Egyptian government has fewer funds from oil with which to pay higher prices for food imports and subsidies.

Their need for energy has grown,so I propose: Gov.Deval Patrick should contact the Energy Dept. and propose to DOE that Evergreen Solar ,Spire Corp. & XSunX be given a grant to manufactur­e solar panels that can be installed on Cairo rooftops.

Instead of the Defense Dept. giving money to Egypt to buy more tanks and helicopter­s that might conceivabl­y be used against Israelis, have the US State Dept. contract companies to teach Egyptians how to install these panels to increase employment­. A Chinese MIT graduate student has started One Earth Designs; Scot Frank President & CEO that does something similar in China & Mongolia. It could be incorporat­ed into the American Recovery Act legislatio­n :
http://www­.oe.energy­.gov/ameri­can_recove­ry_reinves­tment_act.­htm
Solution Provided by Internatio­nal Computers & Technology LLC which has no financial interest in any of the companies mentioned.”