Interesting to see Jim Rogers views on oil. Excerpt below from interview with Jim Rogers on Sept 12, 2008.
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LIU: Well, that leads me, of course, to talk about commodities with you, and particularly oil, Jim. You've been a bull on commodities. We've seen oil come down about 30 percent from the peak. You're still a bull on oil. Why? Where do you see it going?
ROGERS: Betty, the oil bull market started in 1999. Three times since then oil prices have gone down 40 percent or 50 percent. And every time it happened, the skeptics always said, well see, we told you so. There's no bull market.
Well oil could go down 50 percent again. This is not a prediction, I'm just saying it could go down 50 percent. But it's not the end of the bull market. Betty, the bull market will not end until somebody finds a lot of oil, or unless we have worldwide economic collapse, perpetual economic collapse.
The bull market is not over. If oil goes to $75, which is down 50 percent, it's not the end of the bull market. That's the way markets work. They always have and they always will.
LIU: Well, Charlie -
ROGERS: I'm not predicting it's going to $75. I don't want you to start writing that. I'm just suggesting that it could. And it's not the end of the bull market.
LIU: Right. Well on the other side, though, we had a guest on, Charlie Maxwell, saying it could go to 300 in seven years. What do you think?
ROGERS: Well it certainly can. Now wait a minute. I'm suggesting to you the bull market is not over, even if it corrects and goes to 75.
The bull market is not over, Betty, until somebody discovers a lot of oil. Whether it's 150 or 250 or 300, I don't know. I'm not as smart as Charlie Maxwell. But I do know it's going to go a lot higher during the course of this bull market over the next decade.
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