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Outspoken energy investor T. Boone Pickens is the first person to tell you when he’s gotten banged up on a poorly timed investment.The BP Capital chief vented a little about his bullish natural gas call in an interview with Marketplace’s Jeremy Hobson.
He spoke in reference to his recent sale of his Chesapeake investment:
“Because natural gas has been a disaster. It’ll be great at some point, but today it’s trading at $2.37, and that’s pretty cheap.”
While commercial truckers are switching to natgas-based fuels en masse, the infrastructure for average drivers to take advantage of it is not yet in place, he said.
Pickens also took Congress to task for not having a coherent energy policy.
“…so much time is wasted. Very little’s accomplished. [Washington] is absolutely the saddest place to go and try to get something done.”
You can listen to the whole interview at MarketPlace.org.