CNBC Guest Jim Rogers Predicts $200 a Barrel Oil

CNBC guest Jim Rogers predicts that oil will reach over $200 dollars a barrel.

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News & Politics

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• Maria
• Bartiromo
• CNBC
• OIL
• Business

[drumsnbass]

Jim ROgers was a partner of George Soros at the time they broke the bank of England. While Rogers will not say what his net worth is, it is probably north of $700 million or more. He is a super-smart, plain speaking guy. You should have 1/2 his brains & .001% of his cash and you'd be happy.

[glassvision]

He's just a common American from a poor Alabama family, made himself some money in 1979-80 gold, 1987 black monday,and some farm stuff, like soybean, cotton. Average guy, not some high class guy with inherited wealth who doesn't pay tax, like Queen Elizabeth.

[soupwell]

As oil becomes too expensive to produce, we will gradually migrate to other technologies. I would not bet on this happening before 20 years is up. Even then, the sky will not fall.

[soupwell]

Yes, oil will continue to get harder to produce. It has been doing so since the 1920s.

Thankfully, we continue improving technology. Sometimes this involves a rise in price, because it costs more to use more complex extraction methods. Other times, the new methods provide so much more production that the price collapses. See the price of natural gas since the advent of hydraulic fracturing.

[TurnKeyOil]

@drumsnbass, they weren't so off on their predictions.  I think it will be interesting to hear 2011 predictions coming in 4th quarter.

[AntiPsychopath]

@glassvision She has never worked in her life, what are you talking about??? all queens do is steal from their people under a legal umbrella. Your economics are surely poor, but it also seems that your politics are a little dodgy too...perhaps, you inherited your wealth and therefore have been rendered incompetent....lol, that might make you a "high class guy"....lol...sheeesh what a douche

[you2306]

i hear u.s is importing oil

[you2306]

they make oil in tar sands? i thought it had oil there. no? i agree there is a shortage of oil for sure and no major oil field has been found. And any current or future discoveries will take many many years to bring that oil to market

[rocminc99al]

Rogers' time frame is 10+ years. He might have the last laugh after all.

[ojmoss]

What you are saying may be true but it is independent of the pirce of oil. People were using peak oil to justify over $100 oil and we saw how well that worked out. Once this deflation really starts to take hold the price is going to plummet again. Whatever the premium for dwindling supplies is it is insignificant relative to the deflationary tsunami coming.

[ojmoss]

how can you say "the era of cheap oil is winding down" when the price of oil collapsed from $147 to $33? it's the exact opposite. the era of expensive oil is over. we are in a deflationary depression and oil is going to go plunge even lower, possibly as low as $4. rogers, faber, paul and especially clown schiff have gotten it totally wrong. check out robert prechter to see what a true austrian is saying.