Berlinbusiness
I respect the judgement of T Boone Pickens as he is a self made Billionaire in the petroleum industry. I think he is 86 years of age so he's seen a few ups and downs in the market: he has seen it all before.
I think the difference in the Baker Hughes rig count and his might be that he has taken into account rigs owned by the operator as well as the drilling contractors whereas Baker Hughes count is compiled from figures supplied by contract drillers only. (I think you'll find BHP have mothballed 26 rigs for example)
If I had money to invest I would not be too greedy and I would invest right now. I would worry I might miss the bottom.
Good luck!
Saudi King dead, page-10
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