Oil, Alternatives, and Nuclear Weapons - An Interview with Marc Faber
Oil, Alternatives, and Nuclear Weapons - An Interview with Marc Faber
As the world economy teeters on the brink and rising oil prices threaten to de-rail the delicate roots of recovery we asked legendary investor Dr. Marc Faber to join us and give his views on high gasoline prices, the shale boom, alternative energy, developments in the Middle East and much more.
In the interview Mark talks about the following:
• Why investors shouldn’t buy oil right now
• Why alternative energy investments are a bad idea for investors
• Why Iran should be allowed Nuclear weapons
• Which direction oil prices could go and why
• Why Investors should be taking money off the table NOW.
• Why we shouldn’t be pinning all our hopes on natural gas
• Why selling down the strategic petroleum reserve to reduce oil prices is a useless strategy.
• Why the shale boom won’t affect US foreign policy priorities
• Why Obama is a disappointing president
Dr. Faber is a very well known commentator throughout the investment community. He regularly appears on CNBC and is a member of the Barrons round table.
Marc is the editor and publisher of the Gloom Boom & Doom Report, which is a very popular investment newsletter that highlights unusual investment opportunities for its subscribers. You can find out more about the Gloom Boom & Doom Report at Marc's website: www.GloomBoomDoom.com.
OilPrice.com: A number of our readers have been enquiring about the recent oil price increases, where a few weeks ago we saw them rise to a ten month high. Where do you see oil prices going from here, and what do you see as the main reasons for the rapid increase?
Marc Faber: I think there is a risk that oil prices will go much higher. At the same time, the bullish consensus on oil is now at one of the most elevated levels it's ever been. In other words, from a contrarian point of view, you shouldn't buy oil right now.
I think it may go down somewhat. In general, if trouble breaks out in the Middle East, or if there is a war, I think the price of oil could go much higher.
OilPrice.com: What are your 3-5 year projections for oil prices?
Marc Faber: Well, you’ll have to give me a second. I need to call Mr. Ben Bernanke and ask him how much money he will print. Commodity prices were in a bear market from 1980 to 1998, and since then they've gone up. But because of expansionary monetary policies and artificially low interest rates they have increased more than would have otherwise been the case. We don't know exactly how long this asset bubble will last - but say if you had interest rates in real terms, of five percent, instead of negative five percent, then I think all commodity prices, including gold, would be lower.
To read the full interview, click here.