OPEC is running out of oil

OPEC always comes to a consensus verbally when it has public relations announcements, but they are always cheating on each other. I don't pay too much attention to OPEC, because OPEC is running out of oil just like the rest of the world. Don't waste your time watching OPEC; I guess you have to, because you have to have something on TV. But OPEC is not nearly the force it used to be. The market is much more important. - in Economic Times

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Jim Rogers is a bestselling author, financial commentator and sucessful 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).

Exclusive Interview on Oil with Legendary Investor Jim Rogers

Legendary Investor Jim Rogers chairman of Rogers Holding joins the street.com for an exclusive interview about Oil . Mr. Rogers explains how the world is running out of oil, and what that means for the future of energy.



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Oil will go over $200 eventually

Jim Rogers shares his views on oil with CNN : “… the current situation is certainly causing oil to go higher and oil will go over a $150 and it will go over $200 eventually. The problem is the world is running out of known supplies of oil – period. The IEA is going around pleading with people to listen that the world’s known reserves of oil are declining at rates of 4–6% a year. Figure it out – that’s simple arithmetic; we’re running out of known reserves of oil.”

bigger demand for oil

There’s going to be a much bigger demand for oil (NYSE:USO) from power plants because nuclear power plants are being shut around the world. – in CNBC

Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) iShares FTSE/Xinhua China 25 Index (ETF) (NYSE:FXI), Morgan Stanley China A Share Fund, Inc. (NYSE:CAF), PowerShares Gld Drg Haltr USX China(ETF) (NYSE:PGJ) iShares FTSE/Xinhua China 25 Index (ETF) (FXI) China Mobile Ltd. (ADR) (NYSE:CHL), iShares FTSE/Xinhua China 25 Index (ETF) (NYSE:FXI), China Petroleum & Chemical Corp. (ADR) (NYSE:SNP), China Life Insurance Company Ltd. (ADR) (NYSE:LFC), PetroChina Company Limited (ADR) (NYSE:PTR), Morgan Stanley China A Share Fund, Inc. (NYSE:CAF), Aluminum Corp. of China Limited (ADR) (Public, NYSE:ACH)