Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.
In the video clip below, Jim Rogers, chairman of Rogers Holdings and author of Investment Biker: Around the World with Jim Rogers and A Gift to My Children: A Father’s Lessons for Life and Investing, shares his views on oil with CNN.
Rogers said: “… the current situation is certainly causing oil to go higher and oil will go over a $150 and it will go over $200 eventually. The problem is the world is running out of known supplies of oil – period. The IEA is going around pleading with people to listen that the world’s known reserves of oil are declining at rates of 4–6% a year. Figure it out – that’s simple arithmetic; we’re running out of known reserves of oil.”
Source: YouTube, March 4, 2011 (Hat tip: Global Investor Blog).
Jim Rogers: “We’re running out of oil” was first posted on March 5, 2011 at 6:57 pm.
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