Prediction du Jour: Oil will hit $200 a barrel, says Rogers
The price of oil could surge above $200 a barrel, more than doubling from present levels, according to Jim Rogers (via Investment Week). As concerns about oil reserves running out heighten, he believes we will see another dramatic rise in price.
“Maybe there is a lot of oil in the world, but if there is, we don’t know where it is or how to get to it,” he says.
I have no idea whether we will see $200, but oil above $100 will certainly start creating a headwind for the economic recovery.
Source: Investment Week, January 21, 2011.
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