Jim Rogers : Oil Price to Rise beyond anybodys expectations

Speaking with the British BBC, last Tuesday 17 May 2011, famed investor Jim Rogers chairman of Rogers Holding said he believes that the oil prices will rise “beyond anybody’s expectations” in the foreseeable future and that America is in serious trouble





Jim Rogers : “The IEA, the International Energy Agency, says that the world’s known reserves of oil are declining at a rate of 6% per year. There is no oil,”
“Well , during the course of the bull market, during the next 10 years, 150, 200 $ . You pick the number,I don’t know, it’s going to go beyond anybody’s expectations, including mine. And I’m the bull. But there will be corrections along the way.” and when asked about the implications of the high oil prices on the global economy and in particular the American one Rogers said : "...we have slowdowns in America , America is in serious trouble there is no doubt about it , there is no question that a 200 dollars a barrel will hurt America in many ways it is gonna hurt a lot of people but some people will benefit, Steven remember, there are lots of people out there in the world. Somebody’s always benefiting and somebody’s always suffering.”







Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.