Sunday, July 13, 2014

Marc Faber: Positive Outlook for Oil

ET Now: What is your view on crude in the light of the recent volatility?

Marc Faber: My view regarding oil is similar to that on other commodities. We had a huge increase in crisis after 1999 when crude rose from $12 a barrel to over $100 a barrel and a peak was made in July 2008 at $147. It came down again and then rallied again.
In general, regarding crude and other commodities, the cost of exploration and extraction has gone up and I do not foresee a meaningful decline. Now, can the oil price temporarily drop to $80 a barrel?
That is a possibility, but in general, unless the oil price is above $80 to $100, exploration will be curtailed. So my outlook for oil is rather positive, especially given the geopolitical situation that we are faced with. - in ET NOW July 2014

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.

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Dr. Marc Faber Tomorrow's Gold

Dr. Marc Faber author of the Gloom, Boom and Doom report is a world class Investor, Doctor Faber 's typically controversial and contrarian views have earned him the label of Dr. Doom. Doctor Doom also trades currencies and commodity futures like Gold Natural Gas and Crude Oil.Even his harshest critics must admit that he's been unerringly correct in his market forecasts over the past three decades . Marc Faber is a Swiss investor.He was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager.