Oil will not fall below $100 again: Pickens

NEW YORK (Reuters) - Oil tycoon T. Boone Pickens said on Tuesday crude prices will not fall below $100 a barrel again and that the United States should invest more in natural gas to cut dependence on foreign oil.

"U.S. natural gas can replace foreign oil. It's the only natural resource we have that can do that," Pickens said during a press event for the release of his new energy plan. North American natural gas could replace 38 percent of U.S. oil imports, he said.

The release of "The Pickens Plan" follows the Texas billionaire's announcement this year that he was investing heavily in wind power.

(Reporting by Timothy Gardner)