Yeah, I know a guy in Canada who charges $100-$150.
Makes me wish I had chosen differently back in my university days!
That rate is pretty normal here in Ontario, Canada but given the way things have been going in the defence/high tech. industry I hope your friend has a long contract lined up, if he works in this sector. The days when you could consult/contract out of your basement and make $100+ an hour are gone.
I'm an engineer and it's not uncommon to see my employer bill my time externally for 3x to 4x what I actually take home so your friend offering $100 to $150 is probably very competitive depending on his experience and clearances. For example, my former co-worker who was our technical lead maked something around $85 an hour (plus benefits, etc... ) with an external charge rate of $250 an hour.
$93.75BTC/hour for someone with 12+ years of experience, assuming it's formal work experience, not hobby work, is actually quite affordable.