According to Jim Rogers at least.
Here he is having a little talk with Bloomberg:
http://www.bloomberg.com/news/2011-02-28/rogers-says-he-s-short-emerging-market-nasdaq-stocks-video.html
I'm inclined to agree that Saudi Arabia has greatly overstated their oil reserves. Every OPEC country has in order to claim as large a production quota as possible.
I'm not sure how much they can raise production though. I don't know how we can have a certain handle on that.
One thing I know for certain is that I love listening to Jim Rogers. And why not ? He was out in front of the commodity boom before virtually anyone. And he loves to call government officials idiots, which is always good for a laugh.
One area of great interest to him is agriculture which also came out as being an area of interest to Michael Burry the last time I heard him speak.
I had one good fertilizer idea last summer which has unfortunately doubled and is not nearly as attractive:
[url=http://www.gurufocus.com/news.php?id=105760]http://www.gurufocus.com/news.php?id=105760[/url]
And also the parent of Stonegate also offers some exposure to a huge farming operation, but the share price has also risen and isn't as attractive as it was when I wrote this:
http://valueinvestorcanada.blogspot.com/2010/06/sprott-resource-corp-cheap-safe-liquid.html
Based in Canada as I am I should be able to find a few attractive agriculture ideas over the next few months. If I do I'll be sure to share them with gurufocus.com readers.
