I know that known reserves of oil are in decline. There’s not much question about that. There may be gigantic amounts of oil out there somewhere, but we don’t know where. But even if it’s there, if it’s in the middle of the Pacific Ocean, that’s not doing us much good because it will take decades and staggering amounts of money for it to come onstream. I know that known reserves of oil have peaked, yes. But whether total reserves of oil have peaked, I have no way of knowing—I’m not a geologist and I’m not smart enough.
Related ETF`s and stocks: United States Oil Fund LP (ETF) (Public, NYSE:USO), iPath S&P GSCI Crude Oil Total Return (Public, NYSE:OIL), Exxon Mobil Corporation (Public, NYSE:XOM), ConocoPhillips (Public, NYSE:COP), Marathon Oil Corporation (Public, NYSE:MRO), Transocean LTD (Public, NYSE:RIG)
Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg and CNBC.
