The very fact that BP had those problems means that politicians worldwide are going to be up in arms and it is going to cause more expenses, more regulations, more complications whenever you drill for oil. Offshore especially, but probably onshore as well. Higher prices for drilling means less oil discovered. It means more expensive oil. It just adds pressure to the ongoing pressure to the cost of energy for the next several decades.
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.
Related ETFs: United States Oil Fund LP (ETF) (NYSE:USO) , iPath S&P GSCI Crude Oil Total Return (NYSE:OIL)
Related stocks: Murphy Oil Corporation (NYSE:MUR), BP plc (ADR) (NYSE:BP), ConocoPhillips (NYSE:COP), Marathon Oil Corporation (NYSE:MRO)
