Well-known investor Jim Rogers talked about the prospects for crude oil while in Malaysia this past weekend. Bloomberg’s Chan Tien Hin wrote:

Jim Rogers, who in April 2006 correctly forecast the oil price would reach $100 a barrel and gold $1,000 an ounce, said he expects oil to continue to increase over the next decade.

“Over the course of time, it’s a bull market,” the chairman of Rogers Holdings said today after an investor conference in Kuala Lumpur. While the oil price could fall to $75 or rise to $175, the market will continue to increase over the next 10 years, he said.

The Bloomberg reporter noted that according to Rogers last week, the decline in commodity prices from record highs were only a temporary reversal in a bull market that he predicts will last for several years.

Source:

“Jim Rogers Says Oil Price Rise to Continue for Decade (Update1)”
Chan Tien Hin
Bloomberg, August 23, 2008

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