Prominent Investor: Oil Moving Over $200
One of the greatest hedge fund managers in history, Jim Rogers, insists that oil will move above $200 at some point during the bull market. He also sees the coming bubble in Treasuries bursting soon. Rogers commented that “the U.S.…
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Rogers’ argument is no different from that of most other commodities bulls. A rapid recovery in the global economy will hit oil supplies with unprecedented demand. Oil fields around the world are aging and their production is falling. Underwater fields are hard to drill and some many be unreachable based on current technology.
Rogers may be worth listening to because he has been right so often in the past. He c0-founded the Quantum Fund with George Soros almost forty years ago and has done remarkably well, making himself a billionaire, though intelligent investments in global commodities.
Rogers is already making his bet on $200 oil. It was at $147 just a little more than two years ago. If it can get there once it can certainly get there again.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
