Prior to this Jim Rogers commented on gold price movement, as stated in previous article. Below article in turn containing his view on future oil price movement. If his view is true, I think it is good for Oil & Gas stock. Please read the article below;
One of the greatest hedge fund managers in history, Jim Rogers, insists that oil will move above $200 at some point during the bull market. He also sees the coming bubble in Treasuries bursting soon. Rogers commented that “the U.S. government bond market will be the next bubble to burst due to unsustainable borrowing,” during an interview with Reuters TV.
Rogers’ argument is no different from that of most other commodities bulls. A rapid recovery in the global economy will hit oil supplies with unprecedented demand. Oil fields around the world are aging and their production is falling. Underwater fields are hard to drill and some many be unreachable based on current technology.
Rogers may be worth listening to because he has been right so often in the past. He c0-founded the Quantum Fund with George Soros almost forty years ago and has done remarkably well, making himself a billionaire, though intelligent investments in global commodities.
Rogers is already making his bet on $200 oil. It was at $147 just a little more than two years ago. If it can get there once it can certainly get there again.
No comments:
Post a Comment