• "I can assure you that Saudi Arabia is not using the oil price right now to impact the fracking industry in the United States... there's an oversupply and demand is not so high."
• The lack of balance between oil's supply and demand means the road back to $60-$70 range will be "not that easy, not that quick," the prince said, adding that "markets may not even have found the bottom yet."
• Oil will never see $100 again....
• I would not think Alwaleed would predict higher prices quickly if his goal was to drive frackers out of business... but that might be why he said oil will never see $100 again, crush hope.  To think we'll "never see $100 again" seems foolish in light of the war of the money printing presses we have so ALL governments, including his, can maintain their spending on social programs.  I read somewhere Saudi Arabia needs $90 oil to meet its budget for social spending without dipping into their own savings or increasing production.
  

• We may see better deals in the energy sector first, but buying now offers good value.
• We'll hit peak production for the US in five or six weeks then it will start to come down as rigs go offline.
  
• Boone thinks oil will be back up to $70 to $80 per barrel by the fourth quarter of this year.
• 300M cars in the US.  Cheap gasoline keeps the tanks full.  20 gallons each is 600M gallons or about 142 million barrels of oil. When gasoline was expensive, many only filled half a tank.  Half of that is roughly 75M barrels of reserve in tanks.
  (Interesting: I like to have a reserve for safety so I always filled my tanks when they got down to half.  It also make the pain of filling was less, but that was secondary.  My windsurfing van holds 38 gallons so usually have 19 gallons or more of fuel  in the van to use in my BMW that gets 23 MPG on the highway, in an emergency.)
• Boone thinks we'll be back up to $80 to $90 a barrel in 12 to 18 months.
  
• Note, on Dec. 2, 2014 Pickens told^{(Note 3)} Jim Cramer that Oil would return to $100 per barrel in 12 to 18 months.
  
• Boone told CNBC he is "a little long oil."
  

WTIC and XLE, the exchange traded fund for the energy sector or XLE,  charts along with graphs of the S&P500 ($SPX) and the US dollar ($USD) for comparison. 

XLE Charts

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