• 2 hours PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 4 hours Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 6 hours Syrian Rebels Relinquish Control Of Major Gas Field
  • 7 hours Schlumberger Warns Of Moderating Investment In North America
  • 8 hours Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 9 hours Energy Regulators Look To Guard Grid From Cyberattacks
  • 10 hours Mexico Says OPEC Has Not Approached It For Deal Extension
  • 12 hours New Video Game Targets Oil Infrastructure
  • 13 hours Shell Restarts Bonny Light Exports
  • 15 hours Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 21 hours Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 1 day British Utility Companies Brace For Major Reforms
  • 1 day Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 1 day Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 1 day Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 1 day OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 1 day London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 1 day Rosneft Signs $400M Deal With Kurdistan
  • 2 days Kinder Morgan Warns About Trans Mountain Delays
  • 2 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 2 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 2 days Russia, Saudis Team Up To Boost Fracking Tech
  • 2 days Conflicting News Spurs Doubt On Aramco IPO
  • 3 days Exxon Starts Production At New Refinery In Texas
  • 3 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 3 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 3 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 3 days China To Take 5% Of Rosneft’s Output In New Deal
  • 3 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 3 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 3 days VW Fails To Secure Critical Commodity For EVs
  • 4 days Enbridge Pipeline Expansion Finally Approved
  • 4 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 4 days OPEC Oil Deal Compliance Falls To 86%
  • 4 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 4 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 4 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 4 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 5 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 5 days Aramco Says No Plans To Shelve IPO
Global Energy Advisory Friday 20th October, 2017

Global Energy Advisory Friday 20th October, 2017

As tensions surrounding Kurdistan rise,…

Can Trump Drive A Wedge Between Saudi-Russian Alliance?

Can Trump Drive A Wedge Between Saudi-Russian Alliance?

Trump’s Iran deal decertification threatens…

What Jim Rogers Believes Obama's Second Term will do for the US Economy

What Jim Rogers Believes Obama's Second Term will do for the US Economy

In the wake of the presidential elections The Economic Times spoke to Jim Rogers about how he thinks the markets will respond to the news that Barack Obama will sit in the Whitehouse for another four years.

Now that the elections are over investors the next big topic that is on the lips of managers and investors alike is the pending ‘fiscal cliff’ that the US is quickly headed towards. This is the point that is rapidly approaching in December where a series of economic policies, such as the Bush-era tax cuts, will expire across the board, potentially halting any progress made by the economy on its path to recovery. Rogers’ lack of faith in Obama is apparent as he states that the President’s method for tackling this problem “is going to be the same. More money printing, more deficit spending and more problems for all of us. You should be worried, and I am worried. The US is going to have economic slowdown in 2013-2014. So now you are going to see more unemployment or fewer jobs, more turmoil in the currency markets and more turmoil in oil markets. Be worried.”

Related Article: Why US Energy and Economic Prospects Improve if Obama Loses

He suggests that Obama’s administration is likely to try and implement a quick fix, rather than create a long term solution to the problem. Yet he warns that “whatever fix they do in the end, it is likely be the wrong thing. These guys have been doing the wrong thing for the 50 years in America. America 50 years ago or even 40 years ago was the richest and most powerful country in the world. Now America is the largest debtor nation in the history of the world. America is now the largest debtor nation in the history of the world and it gets higher and higher everyday.”

In order to protect himself from the dire future that he envisages for the US economy, Rogers has stated that he will invest in commodities, such as crude oil. “The commodity index is such that crude's price will stay higher than most people expect and also it will go very high.”

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News