Boone Pickens: It's Time To Load Up On BP Shares

T. Boone Pickens

Photo: T. Boone

Given T. Boone Pickens’ penchant for pushing legislation which benefits his investments, as has been the case with alternative energy, we can now comfortably guess he’s against an offshore drilling ban.That’s because he’s the latest BP bull:

Bloomberg:

You’re going to have to stand a little more heat, but I think they’ll kill the well by mid-August,

“They will further damage their image when they start the investigation, but today BP is good buy.”

Pickens’s fund held no shares in BP as of the end of March, according to a regulatory filing. The fund held shares of Transocean Ltd., which leased the Deepwater Horizon rig to BP. It also owned shares of Anadarko Petroleum Corp., a partner in the well, and Halliburton Co., which was contracted to do work on it.

Adding Transocean

“We still have the Transocean, I think we added to them,” Pickens said of the shares.

March was a long time ago, by now he’s probably got a decent chunk of BP as well.

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