Friday, May 6, 2011

Oil reserves in decline by six percent a year

Jim Rogers : The International Energy Agency "has come to the conclusion that the world's oil reserves decline by six percent a year and that is an argument for the rising price of crude.

Say they don't decline by six percent, say they decline by four percent. That means in 25 years there's no oil at any price.

At 300 dollars per barrel they would be drilling for oil under Buckingham palace. in CNBC