{"id":184501,"date":"2010-01-15T04:27:19","date_gmt":"2010-01-15T09:27:19","guid":{"rendered":"http:\/\/nw0.eu\/2010\/01\/15\/cnbc%e2%80%99s-kilduff-100-oil-in-next-six-months.html"},"modified":"2010-01-15T04:27:19","modified_gmt":"2010-01-15T09:27:19","slug":"cnbc%e2%80%99s-kilduff-100-oil-in-next-six-months","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/184501","title":{"rendered":"CNBC\u2019s Kilduff: $100 Oil in Next Six Months"},"content":{"rendered":"
\n
\n
\n
\n

Jeff Poor
\nBusiness & Media Institute<\/a>
\nWednesday , January 13th, 2010<\/p>\n

It
\nhasn\u2019t been in the limelight recently, but it is coming.
\nAccording to CNBC contributor John Kilduff of Round Earth Capital, we
\nwill soon see the price of reach $100 per barrel.<\/span><\/p>\n

 <\/span><\/p>\n

On
\nCNBC\u2019s Jan. 11 \u201cThe Kudlow Report,\u201d host Larry Kudlow
\nasked Kilduff what it would take for the Obama\u2019s administration
\nto change its energy policy to allow for more oil exploration and
\ndrilling.<\/span><\/p>\n

 <\/span><\/p>\n

\u201cOil
\nis hitting a 15-month high at $83 a barrel and it was $30 about a year
\nago,\u201d Kudlow said. \u201cSo, Interior Secretary Ken Salazar
\nrules drilling of oil and gas out of bounds for federal lands. No
\ndrilling. So, how high does it go before we go back to drill, drill,
\ndrill?<\/span>\u201d<\/span><\/p>\n

Kilduff confirmed he had
\nforecasted a $100-a-barrel oil earlier this year and said that a
\nvibrant Chinese economy will help prove him right.<\/span><\/p>\n

\u201cIt\u2019s
\nmaking my $100-barrel oil on the first half of the year a lot easier to
\nsit with Larry because we\u2019re clearly on course for that for a
\nvariety of reasons, not the least of which is the China economic
\nnumbers which you discussed in your last segment with Mr.
\nHolland.\u201d Kilduff said. <\/span><\/p>\n

 <\/span><\/p>\n

Kilduff urged preparation for higher oil to be more aggressive.<\/span><\/p>\n

 <\/span><\/p>\n

\u201cThe
\ngood news is oil prices are up because there\u2019s an absolute
\nrecovery under way,\u201d Kilduff said. \u201cThe China story, as far
\nas I can see it, is as real as a heart attack. And we better prepare
\nfor that.\u201d<\/span><\/p>\n

 <\/span><\/p>\n

Kudlow
\nasked if we needed to rely on \u201cwindmills on Nantucket\u201d as a
\nnew power source and Kilduff told Kudlow that wasn\u2019t a good idea.
\nBut he also refuted the theory of peak oil.<\/span><\/p>\n

 <\/span><\/p>\n

\u201cWell
\nif we do it will be very expensive, Larry,\u201d Kilduff said.
\n\u201cAnd I have been opponent of the peak oil theory my entire
\ncareer, not for the least of which reasons was that this
\nmorning\u2019s announcement from McMoRan Exploration and several other
\ncompanies who might have made the oil find of a decade in shallow Gulf
\nwaters. And it\u2019s a real game-changer for the companies involved
\nand it\u2019s in a neighborhood that is going to be one of the biggest
\nfinds in decades.\u201d<\/span><\/p>\n

 <\/span><\/p>\n

Peak
\noil is a theory that there exists a point in time when the maximum rate
\nof global petroleum extraction is reached. However, <\/span>a recent BusinessWeek article<\/span><\/a>
\ndisputed this theory and Kilduff explained that when this idea was
\nconceived, there wasn\u2019t the technology to confirm such a theory.<\/span><\/p>\n

 <\/span><\/p>\n

\u201cWith
\nnew technologies every day, Larry,\u201d Kilduff said. \u201cThis was
\nthigh problem with the peak oil theory from the beginning. How could
\nyou have the hubris to tell me that we had the knowledge and the
\nscience to help us find this oil? Our cell phones were as big as cars.
\nNow they fit in your pocket, right? Now, the same thing goes for
\nsatellite technology that can find oil and new drills that can get to
\nplaces without harming the lands anywhere near what we had in the
\n\u201950s and \u201960s and \u201970s.\u201d<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

<\/div>\n

Book Mark it-><\/b> del.icio.us<\/a> | Reddit<\/a> | Slashdot<\/a> | Digg<\/a> | Facebook<\/a> | Technorati<\/a> | Google<\/a> | StumbleUpon<\/a> | Window Live<\/a> | Tailrank<\/a> | Furl<\/a> | Netscape<\/a> | Yahoo<\/a> | BlinkList<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Jeff Poor Business & Media Institute Wednesday , January 13th, 2010 It hasn\u2019t been in the limelight recently, but it is coming. According to CNBC contributor John Kilduff of Round Earth Capital, we will soon see the price of reach $100 per barrel.   On CNBC\u2019s Jan. 11 \u201cThe Kudlow Report,\u201d host Larry Kudlow asked […]<\/p>\n","protected":false},"author":2604,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-184501","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/184501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/2604"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=184501"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/184501\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=184501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=184501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=184501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}