In the next few months we will see oil above $80, as it has passed the peak of the production cycle.
They (commodities) are more and more in vogue. This cycle....is 15 years away from the peak. We should no longer think of the world as emerged or emerging, we should think 'has it commodities or not'.
We won't be thinking of countries in terms of emerging or emerged but whether they have commodities or not.
We are 15 years away from the peak ... The last (commodities cycle) peak was in 1975 ... Since then the system has mostly been consumer and technology driven.
