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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Tommaso who wrote (136139)	7/24/2008 10:41:07 AM
From: DebtBomb	Read Replies (1) of 306849

T. Boone Pickens warns of $300 oil Calcutta News.Net Tuesday 22nd July, 2008 Billionaire oil investor T. Boone Pickens has told legislators that oil prices will hit US$300 a barrel in 10 years. Mr Pickens said if the United States failed to reduce its dependence on foreign imports, it would need to import 70 percent of its oil in the next decade. He said the US would need to aggressively tap its own natural gas and renewable resources to stop the drift to higher prices. He testified as the Senate planned to debate energy legislation amid calls for more oil drilling to help lower oil prices. Pickens has been touring the country pushing a plan under which domestic natural gas supplies would be used to power cars instead of electrical power plants. The federal government and private investors would build a massive wind farm system in the middle of the country from Mexico to Canada to provide electricity. calcuttanews.net

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