t. 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

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. ♪ ♪ [ 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

t. 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

t. 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

t. 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

t. 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

pickens plan and where it stands. you're still going back to washington to talk about these things. >> every time i leave there i say i'm t not coming back. i always do. >> booneh us the rest of the hour. we have more to talk about. >>> coming up we're going to talk about the government shutdown and art of the compromise with the washington insider and well known business leader, mark patterson. he's going to join us to talk about the treasury department's options. and former ceo of disney michael eisner. he knows about negotiating. he's going to talk about the debt battle in washington. stick around for that and more. >>> welcome back to "squawk box" everyone. all things d reports, apple will hold the fall event october 22. we have the fifth generation ipad expected to feature thinner, lighter design and run apple's new chip. no word on whether the device will incorporate the touch sensor that recently debuted on the new 5s. >>> if congress fails to raise the debt ceiling by september 17th, there's a spoiler alert for you. none of the options are good. >>> u.s. is approaching the debt limit. prospects for a deal to avoid default are slim. joining us now to ta