Marc Faber outlook for Oil

Looking at the dynamics of the oil market, I think that investing in oil is quite desirable for 2 reasons:

First of all, if the optimists are right, and we have a global economic recovery, and it would appear for the time being to be the case...because during the crisis of 2008 and 2009, oil consumption in the developed world went down, but in emerging economies it continued to go up. But now, in the developed world its picking up, so total global oil consumption is rising and that will put pressure on oil prices.

But if you believe in a horror scenario, which eventually brings about high inflation and then war, oil is also very desirable because it will lead to interruptions on supply. In either case, if you are very bullish or very bearish, you should own some oil or energy equities.
via CNBC

Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.