Over at SeekingAlpha, a contributor "fact checked" Jim Rogers.
I'm not convinced that the SeekingAlpha contributor has adequately challenged Jim Rogers.
Two important points that the contributor relies on:
- He trusts OPEC's estimate that their reserves make up 77 percent of global reserves in 2009; these figures have not been peer-reviewed and as the contributor says, "cartel members are notorious for cheating on their quotas"; and,
- The figures he uses to show that total oil reserves have increased over the last two decades includes total liquid reserves; even he admits that he would like to see crude oil broken out separately from other liquids. These other liquids can not be used like crude oil for transportation fuel.
