Oil, Alternatives, and Nuclear Weapons – An Interview with Marc Faber

by James Stafford, OilPrice.com:

[...] OilPrice.com: A number of our readers have been inquiring 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?

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