JEREMY GRANTHAM: Wake Up! The Age Of Cheap Natural Resources Is Over

Jeremy Grantham

Jeremy Grantham of GMO Capital management has just published a long piece with the stark title: “Time to Wake Up: Days of Abundant Resources and Falling Prices Are Over Forever.”

You can find it here if you register for the GMO site.

The gist, though, is exactly as the title says. We’re not finding oil, copper, or iron like we used to. Crop production growth is limited too. And all the while, the world’s population is surging, so demand is booming.

We’ve clipped the key charts for your perusal.

There's been a massive shift away already from cheap commodities

Conventional oil sources are on the decline

There's a huge gap between production demands and conventional oil

Another look at oil's geometric surge

Copper availability is on the decline

Iron ore prices in a historic spike

Crop yield growth is shrinking

fertiliser demand has surged

And commodities of all stripes have been off to the races

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