Sunday, January 23, 2011

Jim Rogers: There's Not Enough Supply Of Oil To Feed Us

"Those reserves off the coast of Brazil are wonderful if you own them, but even the wildest and most optimistic estimates would only add one year's reserves to the world. The world is using 86 million barrels of oil everyday. Even if it stays static or goes down a little bit, those finds off Brazil will make somebody rich, but they are not going to solve the world's problems. And, if you know of a lot of oil in the Arctic, please tell us where it is, but it is going to be very difficult to get it out of there."

Jim Rogers

1 comment:

  1. Then it is a good thing we have some of the largest reserves of coal and natural gas in the world!