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Oil will go up 'ballistically' if unrest shifts to Saudi Arabia, says Marc FaberBusiness Intelligence MEMar. 09, 2011 |
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 Speaking to CNBC today, Faber said: " I think long term you should be exposed to energy in either scenario....if you are extra bearish and believe that War World III is going to start soon, as I believe, or in an optimistic scenario". "So, if you take a very optimistic view of the world, namely a global economic recovery, demand in the Western World will pick up and demand in the Emerging World will continue to rise strongly, so from a very optimistic point of view you should be long oil," he recommended. On the flip side, "in a very pessimistic scenario you have to assume that unrest will shift to Saudi Arabia and other countries in the gulf and at that stage the production is curtailed and in that case obviously oil will go up ballistically." Read More |
