Jim McTague: Energy Bull?
By John Batchelor on May 3, 2009 at 8:00 AM in Energy Policy
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Jim McTague, of Barron’s and the J B S, at the recent Millken Foundation annual conference in Los Angeles, speaks with Bill Markus of Newedge Group re this year in commodities trading.
Markus is cautious and ambitious at once, since the cliff-diving of commodities leaves every market oversold and an imminent gold mine. The energy group of oil, gas, coal is especially inviting, because any recovery will drive the prices of energy sky-rocketing in anticipation of industry demand. Same for the metals and food. Jim Rogers, of Rogers Investment and the J B S, at Singapore told me three weeks back that all commodities were in a bull century. The bill is particularly accurate for food because of demand and the shrinking arable acreage in developed countries, where population gobbles up land for housing and commercial enterprises, and in developing countries, where decades of low prices has driven the small farmer off the land to overcrowd the maga cities and their mega slums. Rogers says, “You want to get rich, marry a farmer.”
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