Jim Rogers warns that Oil prices may be heading for $200 per barrel

Jim Rogers : Known reserves of oil are declining

reknown investor Jim Rogers , warns that the Oil Prices may go as high as $200 because the world is running out of oil , the interview is by the BBC 'the world is running out of reserves of oil' 20 January 2011



Jim Rogers :.....“Well, the surprise is going to be how high the price of oil stays and how high it goes, because Justin [Rowlatt] we have had no major elephant [field] oil discoveries in over 40 years, The International Energy Agency is going around the world pleading with people to listen. Known reserves of oil are declining. It is not good news. Unless somebody discovers a lot of oil very quickly, prices are going to go much higher over the next decade.”
“Justin, the price of oil is going to make new highs,” Rogers said. “It will go over $150 a barrel. It will probably go over $200 a barrel.”