Jim Rogers graduated from Yale University and has a degree in philosophy, politics and economics from Oxford University. Jimmy Rogers became a Wall street legend when he and George Soros founded the Quantum Fund.After his career as a hedge fund manager and investor,Jim Rogers now periodically teaches finance at Columbia University, and appears regularly on the CNBC Cable Network.
Monday, March 17, 2014
Jim Rogers Not Too Optimistic On Shale Oil
"I would urge people to go out and see what’s happening in the field.
Yes, it was all very exciting in the beginning. But now we’re finding
out that those wells are very short-life wells. Production dropped by 40
to 60 percent in the first year, and the demand for rigs to drill in
the shale fields is down 75 percent in the last couple of years. The
demand for pumps is down 50 percent.
So it’s not as much fun as we’d hope it would be. In some countries such
as Poland, people have given up their shale leases, because they’ve
realized it’s just not so simple. I read all the hype, but again I’d
urge people to go into the fields and see what’s actually happened,
rather than reading what journalists hype." - in IB Times
Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).