stick around. >>> our guest host has been boone pickens.me back. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. at bny mellon, our business is investments. managing them, moving them, making them work. we oversee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >>> let's get back to our guest host boone pickens. we haven't talked to you since forbes knocked you off of the billionaires list. you're not broke? >> no. i can give it to you quick. i hit $4 billion. i gave away one. i lost one and one two. >> you make big bets. >> that was part of it. the market got me in '08, '09 is where i took the big hits. don't worry, i'll be back. >> you made billions and lo

joining us now, boone pickens, founder of bp capital. we've also got the 40th anniversary of the opec oil embargo. >> that's right. >> in the united states. a lot to talk about. i don't know if i'm making sense in my thesis. >> you're pretty excited about your trip up there to williston, i know that. >> i had a good time. it was a lot of travel. don't go into what we just talked about. has saudi arabia essentially trapped itself because it can't have low oil prices which then furthers the u.s. boom? >> they are going to have lower oil prices. they've told you -- real simple, i got all the credit for predicting the price of oil and everything. all i did was listen to naimi from saudi say what he had to have. he'd say we have to have $100 a barrel to meet our social commitment. he isn't lying. i just waited two weeks to say the same thing he did. they said gosh, you're great. >> i didn't say that. >> no kidding, he tells you what he has to have. >> well, i mean, that's a point well made. it's in their best interests to keep prices around $

boone pickens, who once scoffed at the oil sands, is one of those investors. s 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. ♪ wow...look at you. i've always tried to give it my best shot. these days i'm living with a higher risk of stroke due to afib, a type of irregular heartbeat, not caused by a heart valve problem. at first, i took warfarin, but i wondered, "could i up my game?" my doctor told me about eliquis. and three important reasons to take eliquis instead. one, in a clinical trial, eliquis was proven to reduce the risk of stroke better than

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. ♪ ♪ [ male announcer ] more room in economy plus. more comfort, more of what you need. ♪ that's... built around you friendly. ♪ that's... built around you friendly. could save you fifteen percent or more on car insurance. yep, everybody knows that. well, did you know the ancient pyramids were actually a mistake? uh-oh. geico. fifteen minutes could save you...well, you know. how old is the oldest person you've known? we gave

boone pickens is here to discuss what i'm calling the saudi paradox. >>> and while you twist and stuffrself into a coach seat seemingly built for no real-sized human being, the airlines are raking it

by the way, check this out, boone pickens tweeting yesterday. his wednesday morning. we p can't wait either, boone. we'll see you tomorrow. plenty to talk about with the government shutdown, debt ceiling and much more. boone pickens tomorrow morning 8:00 to 9:00 a.m. "squawk box" will be right back. [ banker ] sydney needed some financial guidance so she could take her dream to the next level. so we talked about her options. her valuable assets were staying. and selling her car wouldn't fly. we helped sydney manage her debt and prioritize her goals, so she could really turn up the volume on her dreams today... and tomorrow. so let's see what we can do about that... remodel. motorcycle. [ female announcer ] some questions take more than a bank. they take a banker. make a my financial priorities appointment today. because when people talk, great things happen. make a my financial priorities appointment today. peace of mind is important when so we provide it services you bucan rely on. with centurylink as your trusted it partner, you'll experience r

boone pickens plan of creating more c n g vehicles to take that overhang and there will be compressed natural gas correct and what you see the future in the energy sector at least that you cover in the next five to ten years i think one of the biggest compelling arguments that i see that nobody is talking about is america has been very successful on using unconventional technologies whereas five years ago they were producing five and a half million barrels that at the end of next year they're going to be around just under eight million barrels so the dependence of america on foreign oil in the middle east is the. because of america's foreign geopolitics agenda the benefits. akhtar was a europe of the middle u.s. military so inadvertently america and americans have been subsidizing europeans energy imports because the big americans would go to protect the oil fields so who's at the biggest risk right now if there's more political instability in the middle east is the europeans twenty five percent of all that was chief energy investment strategist casey research now let's get to today's

boone pickens.nd gas executive gave cnbc his projection. >> you've got oil off in iraq. you've got oil off in libya. sudan. and brazil is down $100,000 barrelses. and i've forgotten what the other one is, but it's an array of suppliers that are down. yeah, i think -- i'll say it will be $10 a barrel higher. >> all right. $10 a barrel higher for now. michael gurka from spectrum asset based management. mike, good to see you. what do you think of mr. pickens' forecast? >> well, you know, the momentum clearly has been the opposite way, but boone is looking a year out. so there's a lot of data that consume there. effectively, we've seen in the last 12 months, at least, a consolidation around that 91 level. i would not be surprised if you saw some support there. if we violated those areas, then all of a sudden it would be a global quandary because effect hely, the way demand is tapering off, and i hate to use that word, but in so many different fashions as you're starting to see mortgage demand look lower

boone pickens was talking lovingly about mexico.co and the united states. >> upgraded halliburton. >> i want to stick with the oil theme. there's a lot of drilling worldwide. halliburton has come down. >> jp says don't worry about haynes. >> i'm with them on this. this is a my mobile stock. this is netflix, this is tesla. they all trade the same. >> and they reinstate hertz. >> i think it's probably right to pull the trigger. >> what's up tonight? >> i'm trying to do some companies that are literally ahead of the game. this is a company -- you know, i have to -- there's too much politics to not have someone who knows politics more than anyone. this man, chris matthews, an old friend, "tip and reagan," he did that book. i'm going to talk about how we compromised before hard right and hard left before. maybe he can offer some light. >> we'll see you tonight, 6:00 p.m. eastern time. >> simon is here with a look at what's coming up. >> we'll have david faber's exclusive interview with kyle bass live from texas. and we'll weigh in on the

. >> energy titan boone pickens. >> this looks like it's a mess. >> we wrap up the week with one more welch speaks to "squawk" straight from the gut. "squawk box" where business leaders rise above the washington rhetoric. owe here at a ford dealer with a little q and a for fiona. tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee, affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. get up to $140 in mail-in rebates when you buy four select tires with the ford service credit card. where'd you get that sweater vest? your ford dealer. a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameriprise puts more within reach. ♪ >>> welcome back, everybody. take a

melissa: and clean energy, we should mention, boone pickens, he has been a huge proponent of natural he has to have seen the opportunity here. the admission credit to your talking about. >> when the california air resources board came out with this list of the best deals, i use best with some air quotes according to carbon intensity, methane from landfills. even just corn based ethanol, seven times a carbon intensity. so the cells of this with two things. a low carbon fuel credit and also going to get a real bloodbath vacation credit. they will be able to double dip. there will be able to get elsie s f credit generated. a price of the end of last year was about $29. most recently it has been doubled. you can see the economics are great. melissa: funded by taxpayers. the only other thing i see that can see this down the road is the idea that natural-gas from shale is so cheap. this system makes sense to use this for transportation? >> the car and intensity of natural-gas. the assumption is that that meant in is going to produce no matter what. foxbusiness.com your garbage into a landf

we know this because boone pickens went down with a good plan and no one really listened to him. the corporations, no. they don't care. they're about making money for you. they see the world price of oil being sticky and they recognize with new technology they can find oil for as little as 10 to $12 a barrel, sell it for the world price, but it's made in america. it's a bonanza. and the stocks have been some of the best performers imaginable. given that oil didn't come down during the great recession of europe, given that oil didn't come down during the slowdown in china, it certainly isn't going to come down with these two regions coming back online. make no mistake about it, those two are the drivers, not our country, where conservation has cut back on energy use to the point where our refiners are flooding the world with gasoline owing to a decline in the market here. and some quirky rules like the jones act that make it easier to ship oil overseas than to ship it to the east and west coast and louisiana and texas where we actually need it. how do we play these two big themes?

boon pickens award on friday. >> for entrepreneur of the year.a great group. thank you very much. >> congratulations. >> while you got to work and have success, we're not having you can success with oakey's pet funeral home & obamacare. then we find out the hub they were bragging out does even work, so we start monday with their guaranteeing by the end of the month, they'll get it on track. do you buy it? >> no, that's not going to happen. and i think a bigger problem is going to be the computer is a really big problem, but a bigger problem is the wrong people are signing up. people that weren't supposed to sign up are signing up. it's going to cost a fortune. young people that had a policy, these people are now finding the new policy, if they go through obamacare, is going to cost much more money and not be as good. that was not supposed to happen. it was supposed to be the other way. >> so they're taking the fine? >> yeah. they're taking the fine, many, many people are. i've had people tell me over the weekend, they say i can't believe it. i'm

legendary oil man boone pickens.ld's savviest investor some would say chanos and the one and only jack welch. ppened ppened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, where experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger. bny mellon combines investment management & investment giving us unique insights which help us attract the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. >>> when we continue this morning, we'll try and help investors rise above the debt threat and tell you what it could mean for your portfolio. mark zandy of moody's and neil wolin will join us along with steve lie

boone wickens has-- pickens announced he will give a $20 million gift to the hospital. the money will support potential vision-saving research at the wilmer eye institute. pickens, a texas energy entrepreneur was a patient at wilmer, where he was treated for cataracts and macular degeneration. >>> baltimore's port remains shut down for a second day, striking longshoremen and ship companies have yet to reach a contract settlement. alex demetrick reports, the longer the strike goes on, the greater the economic risk. >> by going out on strike, longshoremen know one thing is guaranteed. >> i don't get paid. >> reporter: as ships sit idle, almost no one does. tens of thousands more in support of services trucking. it supports $3 billion a year in wages. another $300 million a year in taxes. just the number of cars alone that come in and go out. the port is -- >> number 1. number 1 in the nation. we overtook new york about a year ago. >> reporter: no more than this week's paycheck are at risk. >> we hope that it will be resolved quickly, so it will not interrupt commerce more

on wednesday, bp capital founder boone pickens talks energy.ormer ge chairman and ceo jack welsh. the biggest names in business are here. and it's only on "squawk box." >>> let's check the futures, show you where the market's indicated to open down. about 124 points on the dow to open where it is here. >>> last week, union pacific warning that profits would fall below examination. right now, we'll shine a sector spotlight on the transports as we head towards earnings season. christian, is union pacific the exception here? >> well, i think what we saw at union pacific was a little bit of a change of mix of traffic in declining coal and grain which are high-revenue, high-margin businesses for them. i think the rest of the businesses were doing okay. the preannouncement was negative, but only missed by about 3%. >> you've seen volume up over every part of this sector. >> that's right. if you look over the third quarter, it was somewhat constructive. july up about 80 basis points, and it accelerated to about 2.5% growth in august. and then septembe

boone pickens, a saudi investor talk about -- this is five or six years ago now, four years ago maybe plan for building a giant wind farm in the tampa area. he was meeting with the townspeople of tampa. some of them were suspicious about whether this had come to fruition and others were suspicious about how loud it would be. he said well, do you like the kind of money in your pocket? he meant be getting royalties from the electricity generated by these turbines. has happened, because of changes in the price of natural gas basically, that huge wind farm hasn't happened, hasn't materialized as >> that's a complicated interaction between wind of natural gas and has a whole walkie panel on it. >> i would like to thank you are reading this book. i am looking forward to it being a series. i'm hoping the second book in your series will be the great texas solar rash. do you have any insight or not? >> well, solar is very interesting. it would like to get some of the mandates and those types of things that wind got 10, 15 years ago. the political climate in the energy climate as asher was sayi