On Jim Puplava it was mentioned that OPEC could easily defend $60 by cutting production, which is running at 98% of capacity anyways. Not sure if that’s true, but I agree that $40-$60 is possible. Anything in this range might be a good buying opportunity again, if one believes in the longer term commodities bull-market like Jim Rogers does. After reading “Hot Commodities” I know that Jim also allows for a recession which will create intermediate-term corrections. His long-term prediction arises though from the shortage in supply, where it will take several years to bring on new capacity. While a recession in the US can take longer and the dollar might cave, other countries might emerge and recover fast, and fill up the demand with their stronger currencies.
