Posted on 01/18/2010 8:10:50 PM PST by Comrade Brother Abu Bubba
Legendary investor Jim Rogers remains bullish on commodities and says the world will soon face food shortages.
"The fundamentals (for agriculture) have gotten better," he says.
"The inventories are now at the lowest they've been in decades, not in years.”
And that trend is just intensifying, Rogers tells CNBC.
“ Things are getting worse. Many farmers can’t get loans to buy fertilizer now, even though we have big shortages developing "
And what will be the end result of this dynamic?
"Sometime in the next few years we're going to have very serious shortages of food everywhere in the world, and prices are going to go through the roof," Rogers said.
Agriculture is his favorite sector in the commodity space, but Rogers likes other commodities as well.
Take oil, for example.
“Over the next decade or so, oil is going to go much higher, because known reserves of oil are declining at a very rapid rate,” Rogers said.
He also favors gold for the long term, saying that if it drops $200 an ounce, he’ll buy more.
But if you’re looking for precious metals to acquire now, Rogers recommends silver or palladium, because they haven’t soared as high as gold.
Many experts share Rogers’ bullishness on commodities.
Goldman Sachs, for example, sees the S&P GSCI Enhanced Total Return Index appreciating 17.5 percent this year.
“Demand is growing on a global basis,” Peter Sorrentino, a money manager at Huntington Asset Advisors, told Bloomberg.
...and yet, oil is falling below $90 today. Tick, tock, Sherlock.
Oil below $89 today.
ticktockticktockticktockticktockticktock
Oil at $86 now.
U.S. On Track To Overtake Saudi Arabia As World’s Top Oil Producer: http://www.freerepublic.com/focus/f-news/2949815/posts
Must be a new month because oil is down again, now below $85. But hey, you've still got December, right Sherlock?!
U.S. Oil Revolution Makes Chumps Out Of Self-Proclaimed “Experts” Again: http://www.freerepublic.com/focus/f-news/2960778/posts
Care to put any money on those big words, Sherlock? Tick Tock...it is already December. You'd be hard-pressed to even find an internet-fool willing to take the 2012 half your bet above.
It never occurs to liberals that maybe prairie grass is more efficient a carbon sink than trees, and converting pasture and prairie to woodland could actually be detrimental?
My goodness. All of that vile against Alabama...and Alabama just kicked your teeth out while seducing your wife and daughter. Tsk. Tsk.
Had Rogers remained in Alabama, he might not have spouted off such nonsense about $300 oil as you have on this thread.
Less than a month left in 2012 for the first half of your "esteemed" prediction.
Remember how you "didn't care" about what oil was doing in 2010, but rather cared about oil in 2012 and 2013.
Well tick effn tock... Less than a month remains in 2012 and you look more ignorant with each passing day, Sherlock.
“The U.S. may be producing too much oil and WTI may drop as low as $50 a barrel within the next two years unless policy makers scrap a law limiting exports, Francisco Blanch, the head of commodities research for Bank of America Merrill Lynch in New York, said in an interview.”
“WTI is our big short for next year,” Blanch said. Should futures fall to between $50 and $65 a barrel, production gains will slow, he said.”
"The U.S. expanded its oil production this year by the most since the first commercial well was drilled in 1859, upending a belief that Americans were increasingly hooked on foreign crude.
Domestic output grew by a record 766,000 barrels a day to the highest level in 15 years, government data show, putting the nation on pace to surpass Saudi Arabia as the world’s largest producer by 2020.
Net petroleum imports have fallen by more than 38 percent since the 2005 peak and now account for 41 percent of demand, down from 60 percent seven years ago, moving the U.S. closer to energy independence than it has been in decades." - http://www.bloomberg.com/news/2012-12-19/american-oil-most-since-first-well-in-1859-signals-independence.html
What bozo thinks oil will hit $300 in 2012?! Can you find one person dumb-enough to side with your idiotic claim in public?
One?
Sherlock?!
You seem to be running a bit low on time. Tick, tock.
Yeah, ummmm, about that whole "2012" claim...have you considered a new career?
All you have to do is say “You win and I was wrong” and this whole thread can fade away into obscurity.
Well, it's already February of 2013 and oil is...double digits (that's two!), not three.
Gee, it's now the final month of the 1st Quarter of 2013, and oil is cheaper today than at this time last month.
What ijiot thought oil would skyrocket to $300 when instead it is in decline?!
Global gasoline sales are stagnant or declining.
Global oil production is up, except for Saudi Arabia which has turned down its taps to a 19 month production low in a desperate attempt to prop up falling oil prices.
Just don't let facts slow you down Bubba...
After missing his 2010 oil prediction, Jim Rogers is now calling for a stock market crash: http://www.freerepublic.com/focus/news/2995850/posts?page=20
*it is quite likely that he will blow that call, as well
Oh wow! Oil just hit $4,000/barrel!
April Fools!
Welcome to the 2nd Quarter of 2013, where you still haven’t even rebuked your old prediction...obviously clinging to some vain hope that somehow oil will skyrocket to $300 at the last minute.
Won’t happen.
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