Pickens: Oil May Fall to $100 in Next 2 Years

T. Boone Pickens, the legendary wildcatter turned takeover artist who now commands the hedge fund B.P. Capital Partners, said in a Tuesday television interview that oil prices will likely stay around $150 a barrel for the foreseeable future.

However, Pickens told CNBC that crude could fall back to $100 a barrel in the next two years as consumption patterns adjust to exorbitant prices.

Earlier in the day, Pickens hosted a meeting with reporters in which he introduced his version of a new energy plan aimed at reducing U.S. dependence on foreign oil. The plan proposes that gasoline-powered auto engines be converted to run on natural gas. Additionally, Pickens says the existing power-generation system that currently runs on natural gas and old coal technology should be replaced with a new system powered largely by wind and solar power. ...