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His logic is flawed.
A century from now the land will be useless, and oil will be something kids will study in high school but will fail to understand it's importance in today's society. Corn, wheat, cotton, and other crops will be synthetic and produced in bulk, and the land will be converted in worthless high rise slums. All of the oil companies will have gone bankrupt because no one buys oil or gas - all of our transportation will be powered without oil and without gas.
But the gold will be worth a lot more.
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