Jim Rogers on peak oil theory

Doing simple arithmetic will tell you that in 20 years, there won’t be any oil at any price.

Jim Rogers : "I have no idea. I know that known reserves of oil are in decline. There’s not much question about that. There may be gigantic amounts of oil out there somewhere, but we don’t know where. But even if it’s there, if it’s in the middle of the Pacific Ocean, that’s not doing us much good because it will take decades and staggering amounts of money for it to come onstream. I know that known reserves of oil have peaked, yes. But whether total reserves of oil have peaked, I have no way of knowing—I’m not a geologist and I’m not smart enough."
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