Jim Rogers Says $200 Oil Will Lead Massive Commodity Surge

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Commodity prices have been soaring around the world, but Jim Rogers says the rally is just getting started (via The Oil Drum).

Rogers made a big call on oil in an BBC interview: “The price of oil is going to make new highs. It will go over $150 a barrel. It will probably go over $200 a barrel.”

What else does he like? Sugar, cotton, wheat, you name it.

Since 2008 Rogers has stopped buying Chinese equity [this post incorrectly said he had sold his holdings], but he does like the renminbi: “If you want to invest in China and you own cotton, they are going to be very nice to you Justin. They are going to pay the bills, they are going to take you to dinner, they are going to pay you on time. If you want to invest in stocks, you have to do a lot of homework and know what you are doing. Another way is to invest in the currency. I own the renminbi. I expect the renminbi to go up a great deal over the next decade.”

Rogers says another threat you might be ignoring is the water crisis, which of course feeds into a commodities boom.

Check Out SocGen’s Definitive Commodities Guide For 2011 >

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