Saturday, January 9, 2016

Jim Rogers: More Downside for Oil Followed By Major Upside

Jim Rogers told RT:
We’re going to pay for the prices of the excesses of the past 8 or 10 years and everything is going to go down more than it should. Whenever you have something go down, it usually overshoots to the down side; just like when things go up they go up too much,

Some people are saying 20 dollars [a barrel]; I don’t know; that’s not my prediction. I’m just saying ‘be prepared’ if things will go – at least for a short time – lower than anybody could conceive.
But then, he added:
 [D]rilling is drying up...[Oil prices] are definitely going to go up in the next few years because supply is going to dry up. Drilling is drying up; everything is drying up, and so you’re going to have much higher oil prices in the future.


  1. And then, Jim Rogers, prices will come back down as drilling will begin again. Wow,what a prediction! Oil prices go down and up and down! Oil prices in 1860 were $20 a barrel and then 2 years later .10 cents a barrel. If we price adjust for inflation since 1860-1862 crude oil is probably the cheapest important commodity on the face of the earth.

  2. As an oil and gas employee, "lower for longer" seems to be the phrase that is so often repeated by energy executives and their merry band of managers. But the problem, as Robert has often pointed out, is that the "experts" are only looking at supply and demand mechanics. The coming price inflation and maybe even the dollar's dive on international exchanges are the unwritten, unnoticed stories of 2016 that may push prices back up as early as the second half of the year.