It's a fundamental positive for anybody who uses oil, who uses energy. It's not a positive for places like Canada, Russia, or Australia. It seems to me that this is a bit of an artificial move. The Saudis, from what I can gather, are dumping oil because the US has told them to in order to put pressure on Russia and Iran. And it's probably not a real move. I read about shale oil like you do. But at the same time, North Sea production is declining. Russian production will start declining next year. All the major oil fields that we know about — all the production is static or declining. So it doesn't quite add up on any kind of medium-term basis I can see.
Related trading instruments: iShares MSCI Canada Index (ETF)(NYSEARCA:EWC), Market Vector Russia ETF Trust(NYSEARCA:RSX), iShares MSCI Australia Index Fund (ETF)(NYSEARCA:EWA)
Jim Rogers is a legendary investor that co-founded the Quantum Fund and retired at age thirty-seven. He is the author of several books and also a financial commentator worldwide.
