The boom market in commodities will last till sometime between 2014 and 2022, feels investment guru Jim Rogers. The commodity cycle is on an upturn, and the trend is likely to continue.
Rogers said, “If history has any guard, this boom market will last until sometime between 2014-2022. It has a long, long way to go as far as I am concerned.”
Speaking on crude, Rogers told CNBC-TV18 that the current crisis is going to continue unless someone discovers a huge, new oilfield. “Nobody has found any oil for many years. Unless somebody finds a huge oil field in Tokyo or Mumbai or Berlin or something, price of oil is going to stay high and go much higher,” he said.
That is by far the most important factor for global prices, he said, adding that, “If Taiwan and China go to war, prices of everything will drop for a while, if any major financial institution, American institution goes bankrupt or something everything will go down.”