Jim Rogers: Oil will hit $100
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Sounds about right, even if they tax cut it, whichmay/ may not happen?????,;might help uptrend as news tends to do.
Technicals & perhaps even fundamentals favor the uptrend;
mr Rogers is perhaps talking his book, probably right anyway.
Rich Dennis could be wrong to mention oil fundamentals favoring the uptrend[paraphrase], but in that last Art Collins interview, he is probably right also. Not a prediction.
Oil will be $200 a barrel before the end of the decade.
And at that price it will still be cheap.
There was an article this week about how the worlds second
largest oil field (in mexico) is in serious decline.
http://www.miami.com/mld/miamiherald/business/international/latin_america/15113530.htm
Once Saudi follows and goes into decline its game over.
Im due to change my car next year, and im going to make sure
my next one will have twice the fuel economy of my currrent one.
Hopefully cars that can do 100mpg will the norm in 2010.
And at that price it will still be cheap.
There was an article this week about how the worlds second
largest oil field (in mexico) is in serious decline.
http://www.miami.com/mld/miamiherald/business/international/latin_america/15113530.htm
Once Saudi follows and goes into decline its game over.
Im due to change my car next year, and im going to make sure
my next one will have twice the fuel economy of my currrent one.
Hopefully cars that can do 100mpg will the norm in 2010.
i am short the QM. i have 3 entries alloted to this trade and have used 2 of the 3 thus far.
i trade the indexes, stocks, currencies and options on occasion.
we shorted into the katrina situation against everyone here and most others profiting nicely. not that that means anything now.
my daily trades are bloged here under "the surf report"
best wishes,
surf
I was going to post the link to the original article and comment that marketsurfer's new supply had better come online pretty soon.
BTW, there is some speculation that the Saudi Ghawar field is already beginning to decline.
Forget about the Lybian fields. There's tons of oil in alaska, all you have to do is use your hands , scoop a hole and sip it out.
http://youtube.com/watch?v=If6i86x0ATQ
Sell commodities in 2018, when everyone will think it is idiotic to sell because commodities always go up, says Jim Rogers.
12 minute radio interview from Singapore: http://www.bloomberg.com/news/av/
12 minute radio interview from Singapore: http://www.bloomberg.com/news/av/
Surfer, if you're betting against oil you're also betting against the Euro and gold. Bad bets. Also, I would think that a heavy hitter like you could afford CL.
surfer, trying to pick up pennies in front of the train huh? Look, if crude gets to 100 a barrel or not is irrelevant, Jim's opinion is a well educated one, but it is still an opinion. What matters is that we are walking into hurricane season, gold is still historically undervalued in comparison with crude, and the momentum play is still on the upside...no one can pick tops and bottoms, and if you think you can, you are money in our pockets. Crude may well trade down to 71-70, however, political unrest in numerous oil producing countires is not cooling down. Supply is another issue, however it has increased and has had little or no effect on the price of oil. I read a post earlier that said if you are betting against crude you are betting against gold, based on the past few years that is 100% correct. Enough rambling from me, just a few thoughts...
Cheers
Cheers