t. boone pickens, who once scoffed at the oil sands, is one of those investors. pickens runs a hedge fund in dallas and is now a true believer. >> we're managing $5 billion here, and about 10% of it's in the oil sands. so it's the one single largest investment we have. >> 10% of $5 billion. i flunked math. >> 500 million. >> and if oil sands are the answer for investors, are oil sands the answer for the united states? >> oh, i think so. [ticking] >> but despite the boomtown mentality in the great white north, we'll meet environmentalists who say there may be a high price to pay to get all that oil out of the dirt when 60 minutes on cnbc returns. [ male announcer ] the inspiring story of how a shipping giant can befriend a forest may seem like the stuff of fairy tales. but if you take away the faces on the trees... take away the pixie dust. take away the singing animals, and the storybook narrator... [ man ] you're left with more electric trucks. more recycled shipping materials... and a growing number of lower emissions planes... which still makes for a pretty enc

t. boone pickens, who once scoffed at the oil sands, is one of those investors. ckens runs a hedge fund in dallas and is now a true believer. >> we're managing $5 billion here, and about 10% of it's in the oil sands. so it's the one single largest investment we have. >> 10% of $5 billion. i flunked math. >> 500 million. >> and if oil sands are the answer for investors, are oil sands the answer for the united states? >> oh, i think so. [ticking] >> but despite the boomtown mentality in the great white north, we'll meet environmentalists who say there may be a high price to pay to get all that oil out of the dirt when 60 minutes on cnbc returns. when bp made a commitment to the gulf, we were determined to see it through. here's an update on the progress. we're paying for all spill related clean-up costs. bp findings supports independent scientists studying the gulf's environment. thousands of environmental samples have been tested and all beaches and waters are open. and the tourists are back. i was born here, i'm still here and so is bp. not quite knowing what the

t. boone pickens says about this, this is what t. boone pickens says about exporting u.s. natural gas. if we do it, he says we're truly going to go down as america's dumbest generation. it's bad public policy to export natural gas. why is that? because natural gas in the united states is six times cheaper than in asia. it's three times cheaper than in europe. that's why our agriculture sector is doing so well. that's why manufacturing's coming back. the cost of the unit of production of any product in terms of the energy which is needed has plummeted. that's our advantage in coming out of the recession. and finally on the keystone pipeline, why don't we keep the oil here in the united states? the canadians want to take the oil, build a pipeline through the united states over our environmentally sensitive areas, bring it out to texas, an export zone, and then send the oil to asia and latin america. where is the american part of this? what do we get out of the keystone pipeline? nothing. so i will have an amendment that says, if we build that pipeline, if we let the canadians do it, we k

t. boone pickens. we'll get his take on where world oil prices are headed.at happened in today's session. we'll get to some of those rumors. we're on rumor patrol. and also the trades for tomorrow. and mitch modell. that, and much more at the top of the hour. >> looking forward to it, melissa. we're heading to one of the world's largest outdoor farm shows. >> jane wells is set to give us the outlook for the industry. >> you have been talking about home building land prices. farmland prices blowing the roof off the barn. is it a bubble?ñsñs but we couldn't simply repeat history. we had to create it. introducing the 2013 lexus gs, with leading-edge safety technology, like available blind spot monitor... [ tires screech ] ...night view... and heads-up display. [ engine revving ] the all-new 2013 lexus gs. there's no going back. tdd# 1-800-345-2550 so, i want to trade at a place that really gets who i am tdd# 1-800-345-2550 and what i need. tdd# 1-800-345-2550 and still gives me a great price. tdd# 1-800-345-2550 at charles schwab, you get everything you need td

t. boone pickens, joe, it's a big day not only with this news, but we've got auto sales all day long.rom chrysler, first profitable year since 2005. so we'll be talking to you quite a bit today. >> great, phil. >> while we're on the topic of autos i should bring you breaking news, ron bloom, the former car czar taking a job at lazar, a special adviser, he'll be working with their client is the letter carriers in the big debate over what to do with postal service. and he's not representing the government in this casings he's representing the workers. >> that's because the post office has its own plans for cutting like 120,000 workers. >> he's coming up with his own plan. that news just crossed on the tape as we speak. ron bloom in the auto business. figured it's a nice segue with phil. >> and we're going to go to break. if you do, let's say you do decide to buy a python, let's say just say you do, you know what you would name it, right? >> if i bought a python. >> monty, monty, the python. >> that's why they got that up quickly. there it is. this is the name of that python, monthy. you

t. boone pickens, thank you so much for your time.ood to see you. >> thank you. >>> the space shuttle "challenger" blew up more man 26 years ago. now rare home video has surfaced from that horrific day. >>> the man who recorded this incredible video is joining us live, next. to keep big winter jobs on track, at&t provided a mobile solution that lets everyone from field workers to accounting, initiate, bill, and track work in real time. you can't live under a dome in minnesota, that's why there's guys like me. [ male announcer ] it's a network of possibilities -- helping you do what you do... even better. ♪ like splenda® essentials™ no calorie sweeteners. this bowl of strawberries is loaded with vitamin c. and now, b vitamins to boot. coffee doesn't have fiber. unless you want it to. splenda® essentials™ are the first and only line of sweeteners with a small boost of fiber, or antioxidants, or b vitamins in every packet. mmm. same great taste with an added "way to go, me" feeling. splenda® essentials™. get more out of what you put in.

t. boon picken says blaming spectators is a tired old saw. >> that's what politicians will say, the speculatorsany more to talk about than speculators, they don't know what they're talking about. >> reporter: picken says the increase of global ghand ademan just pot terrible loss of the 2 billion barrels a day that they supply the world has got them worried. iran has threatened to close the straight of hormuz, just 20 miles wide at its narrowest point, 25% of the oil passes through there. still, companies like airlines which actually use oil, speculate on it to protect their businesses and hedge against price spikes. others, investors who will never need the oil, invest just for profit. between the tension around iran and increased global demand for oil, the profiteers are betting there's no way the oil prices will drop. but are they actually driving the prices higher themselves? >> there isn't anyone running the market on a speculative basis. the market is moving up because oil supplies are tight globally. from there you can goose it up a little bit, but not much. >> reporter: there may be anot

t. boone pickens. we should keep our natural gas here. we should not be following the republican energy plan of drill here, se there and pay more. if we sell this natural gas around the world the partment of energy says the pry's going up 57% here because -- price's going up 57% here. the same dynamic exists in the keystone portion of the bill where republicans have failed to include any assurances that even a drop of the oil or the fuels will stay in this country. when i ask the president of transcanada, the pipeline company from canada whether he will be willing to commit to keep the oil that passes through this pipeline in the united states, he says no. and why? because the oil companies and the refineries want to export the fuels to the highest bidders around the world leaving the american people with all of the environmental risk and little or none of the energy or economic benefit. so drill here, sell the, pay more, that's not the republican mantra. drill here, sell there, pay less. now they've morphed into what the oil and gas indu

t. boone pickens says blaming speculators is a tired old saw. >> that's the first thing that politiciansy the speculators are doing it. and when anybody comes out with that is a first reason and they can't give you any more to talk about than speculators, they don't know what they're talking about. >> pickens says the mix of increased global demand and just the potential loss of the 2 million barrels per day that iran currently supplies the world has got investors worried. iran has threatened to shut down the strait of hormuz, a choke point on the eastern end of the persian gulf just 29 miles wide at the narrowest point where an estimated 1/5 of the world's oil passes, but iran depends on the revenues of that oil and may not want to jeopardize them. still, companies like airlines, which actually use oil speculate on it to protect their businesses and hedge against price spikes. others, investors will never need the oil invest for profit. between the tension around iran and increased global demand for oil, the profiteers are betting there's no way prices will drop. are they driving the pr

t. boone pickens. halftime report begins right now. >>> four hours to go until the close. this is where we stand, we're at a seven-month high on the s&p and gaining, 1354. was the level we breached few moments ago. apple continues its upward