Jim Rogers: “We’re running out of oil”

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In the video clip below, Jim Rogers, chairman of Rogers Holdings and author of Investment Biker: Around the World with Jim Rogers and A Gift to My Children: A Father’s Lessons for Life and Investing, shares his views on oil with CNN.

Rogers said: “… the current situation is certainly causing oil to go higher and oil will go over a $150 and it will go over $200 eventually. The problem is the world is running out of known supplies of oil –  period. The IEA is going around pleading with people to listen that the world’s known reserves of oil are declining at rates of 4–6% a year. Figure it out – that’s simple arithmetic; we’re running out of known reserves of oil.”

Source: YouTube, March 4, 2011 (Hat tip: Global Investor Blog).

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