"If I invest today, I am considering the following: it is conceivable that because of ultra expansionary monetary policies in the world, and ultra expansionary fiscal policies in the US in particular, we have a temporary crack up boom. And the demand for oil in the western countries which has been declining since 2008, starts to pick up, and combined the oil demand in the world surprises on the upside, and pushes up oil prices, which would be beneficial for the oil producers, in particular Russia and Kazakhstan. Or you have what I think eventually happens: a complete systemic breakdown. I am the most bearish person long-term. If there is a complete breakdown, as I described with money printing and war, you want to be in commodities, specifically oil, because during war times commodity prices go ballistic. So whether you are very bullish or very bearish you should invest in oil."
Marc Fabers
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