Friday, October 9, 2009
Jim Rodgers: Commodity boom to last years
"I don't see any adequate supply situation in any commodity market over the next decade or two," he said. "The commodities boom is not over and the bull market has several years to go.
"Commodities are the best place to be, if you ask me, based on supply and demand."
Oil could reach between $150 and $200 per barrel, as known reserves begin to decline.
Mr Rogers believes that "unless something happens", crude oil will run out in 15 to 20 years. Although plenty of large oil discoveries have been made lately, the commodity is increasingly hard to extract from the ground.
"The supply of everything continues to decline," Mr Rogers said.
Posted by Palmoni at 8:44 AM