I just saw this quote:

Jim Rogers, the co-founder of George Soros’s Quantum hedge fund, says oil prices will reach $100 a barrel, possibly this year.

Rogers said declining supplies from existing fields and a lack of new oil discoveries will drive prices higher.

?The bull market has about 10 or 15 years to run,? he said. ?How high it’s going to go I don’t have a clue during that time, certainly over $100 a barrel or over $150 a barrel before it’s over.?


Yes, Jim Rogers is “da man” when it comes to identifying fundamental conditions. But he’s horrible at timing and not a good trader (both by his own accounts). As he thinks we could hit $100 this year, I would take that as a contrarian signal that the price of crude is going lower.

Of course, that’s not enough of a signal for me to risk my own money on…