mr. pickens: yes.go if you come back in -- what sign do you need to get back in, and how would you go about it? thepickens: i believe $26.19 was a low. i do nothing we will go back there unless there is a recession, ok? do not get in a rush here. you are going to have plenty of opportunity. the market will be volatile. it will not go straight up. we know that. there will be good entry points. matt: when you look at the supply and demand -- and i have on my bloomberg right now, a chart of the u.s. crude supply, it continues to climb -- it does not level out until the last year, let's say. is there any -- mr. pickens: way justice -- matt, just a second. you say that it continues to rise. supply is not rising. inventories are. we keep adding. , i'm sure,reenter until we start to draw on inventories. that is a key point. well, no, supply has leveled out -- in the last year we have not seen an increase, butly, in doe crude supply, inventory worries the market. how much do we need to see the chart fall -- it

mr. pickens: right now, i do not have a position. here waiting for the opportunity to come back into this oil market. matt -- back that hold on -- up. you are sitting predominantly in cash now? mr. pickens: yes. matt: what signs do you need to see to get back in, and how would you go about it? $26.19kens: i believe was the low. i do nothing we're going to go back there unless recession, ok? i think the low is in. don't get in a rush here. you will get 20 of opportunity. the market will be volatile. he will not go straight up. we know that. so, there will be good entry points. surel not reenter -- i am -- until we start to draw on inventories. that is a key point. byrne.: it is barbara i have a question for you. in the last 20 years, we've seen oil prices declined by 35%, up to 75%, but on those occasions we have seen opec and saudi arabia in particular decrease production. what is different this time question mark if they do not move, how long does it take, since the u.s. production has gone up so much -- for us to stabilize, and in

mr. pickens, again, a hero of mine is wrong. i've been wrong before. shall be wrong again but i've been very bearish with crude oil for a lock period of time and i still think new lows are coming. >> this is care. do you think it's possible that the venezuelas of the world, the weaker economies of the world, cannot afford to produce, that magical -- no? we're not near that price. >> karen, they have no choice. they need cash flow. that's all they care about at this point. their cost of production is so abundantly lower than where the market is each right now. >> what is it? >> they would like to have it higher. >> venezuela's is probably $17, $18, 9 saudis somewhere between $1 to $5, who knows where those prices, are but the point being that's not important. what's important is they need cash flow, and when you need cash flow you produce. you don't really care where the end price is. you need the cash flow. that's what's driving it and sooner or later somebody will give up. sooner or later somebody will drop out but that sooner is not now. that sooner

mr. fish's wife. myra ruiz, wyff, news 4, pickens county. michael: in greenville county, a boy scout, alone in the woods for about 18 hours, is back home safe. crews say he covered up in 12-year-old john quay was separated from his troop during a hike in jones gap state park saturday afternoon. they found him yesterday, on old camp creek road, hungry, cold and had on what close. troop leaders say they teach the boys survival skills at a young age. we're told they use a buddy system while on hikes, and aren't sure how john got separated. carol: a live look now from our lake hartwell skycam, a gorgeous leap day across the carolinas. cessarich has what we can expect tonight. john? john: we will cool down a little bit, but seasonably cool. for now, what a way to start the week. 10-15 degrees above average. we warmed up in the 70's outside the mountains, mid-to-upper 60's in the mountains. except for stuck in the 50's in the northern mountains around boone. this evening, we can expect clear skies, then temperatures will gradually cool off as we g

mr. boone pickens making a bold call this morning.t boone had to say. >> once you hit bottom, which is, i think, at 2615 on wti, you're going to double within 12 months from historical, you know, information. so here you are at, you know, 30 and i think you'll be 52 by the end of the year. >> all right. there you go. 52 on wti by the end of the year. a little less bullish than boone has been in the past. oil, though, michelle said, down again, down 6% now. looks like more of that talk about a potential opec cut is just that. all talk. let's bring in roberto, head of energy trading with breen capital. looked like we would get a little bid in oil the last couple of sessions. now down 6% again today. what is going on, what are you hearing on your desk about oil and the oil stocks? >> i think it is a normal amount of profit taking. we got into that 35 to 38 range in wti, moved quickly on short covering last week from the mid to high 20s. moved fast, real quickly. and i think, you know, normal pullback like this is justified. we had a lot

mrs. hope in vitamin to pickens elementary yesterday, got the fourth graders together. i got the hat, t-shirt, a card. everyone signed it and a nice boost from all the fourth graders. we took a picture, a group picture of everyone together in the library where we got together and talked about weather. thank you so much of pickens elementary. look at this cookie cake. myra: that would have been a tragedy on the set. dale: thank you, pickens elementary. we are terrible with the cakes. today's weather will climb to the mid 50's for the afternoon the mid 40's for today. dry weather for the next several days to look forward to. we have a from duncan chapel elementary teachers for our school salute. it is miss holidays fifth grade class and they took a brain break to enjoy the snow last friday. thank you for sending that in. thank you for everyone at pickens elementary for the nice visit. geoff: a reminder, there are delays and closings and you will see them on the bottom of your screen. it's time now for your wyff news 4 timeline on this february 17. on this date in 2002, th

better and he's one of the last teachers there that's like that. that. 3 3 we asked pickens county for a remark about mr. fish and what happened in the ap lit class. they could not comment on camera but sent us the statement saying quote:last week, administration received complaints about content that was shared by an easley high school teacher. the district administration followed its standard procedure by placing the teacher on leave in order to investigate the allegations. the teacher will not be returning to the school or classroom. 3 as always, the district's primary focus is the education and welfare of its students. the administration will do everything necessary to make sure students have the academic support that is needed for the remainder of reached out to mr. fish and spoke with him over the phone. he declined an on camera interview but said he was shocked over the reaction from the school about the incident. he has been a teacher with the district fir 16 years. he says that he has been overwhelmed by the support from his students and says in this situation their voice is more important than

mr. fish, who said only that what his students have to say is more important. myra ruiz, wyff news 4, pickens county. carol: the school district will nigel: they only said he would not be returning to school. a beautiful monday as we take a look at the skycam. carol: wyff news 4's chief meteorologist, john cessarich, is in our studio right now, tracking the latest. looks pretty good. john: absolutely gorgeous outside. what a way to start the week. warmed up nicely into the 70's. no records, the record is 79 in the upstate. we warmed into the mid-to-upper 60's in the mountains, also not a record. the records are the 70's. still, way above average for this time of year. definitely a touch of spring in the air. 56 in boone, 77 in elberton. overnight, a beautiful evening outside. haddad's -- headed towards tomorrow morning, clouds on the increase. a cold front pushes through and changes the weather pattern to scattered showers. through the southwestern mountains, bryson city, andrews, charity, northwestern georgia. these could move across tuesday night. now back to you. carol: turning to commitme