MONEY & MARKETS Jim Chanos has a dark warning for OPEC members
MATT TURNER YESTERDAY AT 9:49 AM
Jim Chanos has a warning for OPEC members: pump oil now because it might not be worth much in 15 years.
The hedge fund manager was on CNBC on Thursday night, and was asked about the oil price.
“It’s down an awful lot,” he said. “Having said that, I think if you were to look out five or ten years, if I was a member of OPEC I would be pumping as much as I could today while it’s worth something because it might not be worth a whole lot by 2030.”
DGs comments
Wasn't that long ago we had terms like peak oil and 200-300 prices quoted.
Pretty amazing what tech can do to a product.
Advances are coming thick and fast and I think we are going to be on a new bell curve for oil as a transportation input..the last 10 years of even posting into hotcopper we have seen advances in the solor and wind power that we debated where good or bad..
Now they are turning into real alternatives to how we view power generation and how we store and use it..
Actually pretty exciting stuff for the next generation in that they are not tied to 20th century cartels that have grown too powerful for their own good..
