Jim Rogers blames oil prices on declining reserves

[ccyork]

Jim Rogers blames oil prices on declining reserves

http://news.xinhuanet.com/english/20...nt_8492601.htm

U.S. investor Jim Rogers has said that the decline in known oil reserves across the world is the main reason behind the skyrocketing oil prices that have already topped 145 U.S. dollars a barrel. While admitting that factors driving up oil prices are various, Rogers insisted that short oil supply was the fundamental factor pushing oil prices up all the way.

-- ccyork

The Jim Rogers Project - http://jimrogersproject.wordpress.com/

[Starving Steve]

Re: Jim Rogers blames oil prices on declining reserves

I am amazed at the number of idiots around me who think that there are trillions of barrels of cheap oil extractable from the Bakken Formation in N.D. or from the tar sands in Alberta. These idiots remind me of those who in the 19th C. thought you could extract gold cheaply from seawater, just because the gold is actually and visibly there in the seawater, even right in the palm of your hand.

The Saudi Arabians see the end of their reserves of cheap oil. It is amazing that the West, especially the U.S, is blind to the fact that the world is running out of cheap oil.

And I am the first person in this forum to say drill offshore and drill everywhere possible. Also build atomic power plants everywhere possible, and build them fast--- like in a matter of months. Tell the Sierra Club and their lawyers to get lost.

If Obama had any balls, he would now tell the eco-frauds on the West Coast to go to hell.

[GRG55]

Re: Jim Rogers blames oil prices on declining reserves

I am amazed at the number of idiots around me who think that there are trillions of barrels of cheap oil extractable from the Bakken Formation in N.D. or from the tar sands in Alberta. These idiots remind me of those who in the 19th C. thought you could extract gold cheaply from seawater, just because the gold is actually and visibly there in the seawater, even right in the palm of your hand.

The Saudi Arabians see the end of their reserves of cheap oil. It is amazing that the West, especially the U.S, is blind to the fact that the world is running out of cheap oil.

And I am the first person in this forum to say drill offshore and drill everywhere possible. Also build atomic power plants everywhere possible, and build them fast--- like in a matter of months. Tell the Sierra Club and their lawyers to get lost.

If Obama had any balls, he would now tell the eco-frauds on the West Coast to go to hell.

Obama is more likely to offer "A windmill in every backyard"...

[metalman]

Re: Jim Rogers blames oil prices on declining reserves

Obama is more likely to offer "A windmill in every backyard"...

if ej is right and the energy shit hits the fan, no problem pushing the tree hugger lawyers off.

[phirang]

Re: Jim Rogers blames oil prices on declining reserves

70% of reserves are nationalized.

70% of production is from IOC's.

the problem is obvious...