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I think it is ok to invest in oil because for two reasons:
1) It will eventually go up
2) Make back the money you lost by actually paying for the gasoline when oil was 150/barrel ---> 4.11/gallon
Think about it if it seems expensive means that the company selling it is making a profit. (Oil --> exxon, iphone --> apple, etc.). Buy oil to make the money you lost for excessive gas prices last summer.
Yes but the poor who have no choice but to pay for expensive oil will hardly be able to recoup their losses simply because they can not afford to buy oil stock. So in reality it only benefits those who can afford to do so. If you are able to purchase oil stock, the cost of gas is not a great concern
That is utter nonsense. You’re hoping that the demand goes up so OPEC can cut production and raise the price on a barrel of oil. Not good for average working class people who are not thinking of buying oil stock but putting food on the table. Since when did the oil companies need to raise capital? Did they not raise BILLIONS of dollars in oil profits by over charging us in the first place?
No they did not make billions by overcharging you. They make money by selling you the products you use everyday at a profit of 10%. If you want to talk gouging ask Microsoft what their margin was on your computer programs.
It's not greedy to buy a product when the price is lower. It's smart....and frugal.
When Coca-Cola goes on sale at your local supermarket for $2.50 for a 12 pack what do you do? The regular price is like $4.00. And if you're a Coca-Cola addict like my wife you'd better stock up cause you know it's going back up next week.
I thought $144/barrel was extreme. Maybe it was a fluke. But I see it at least going back up to $100/barrel in 6 months or less. If I invested $1000 in oil at $50/barrel and it went back up to $100/barrel that's going to double my money. What if it went crazy and went to $144/barrel again....or higher? You could drink Coca-Cola for quite a while on that.
It's not greedy to buy a product when the price is lower. It's smart....and frugal.
When Coca-Cola goes on sale at your local supermarket for $2.50 for a 12 pack what do you do? The regular price is like $4.00. And if you're a Coca-Cola addict like my wife you'd better stock up cause you know it's going back up next week.
What to do?
Walk on by and be better for it.
A 12 pack @ $2.50 will make a normal, healthy person sick, along with parting them from their money.
A 12 pack @ $4.00 is the same, just parts with more money.
Lose / lose choice there, and no win on the list.
You are correct that is a good metaphor for oil and the US.
Thanks for being a sport -- I do not mean to be so preachy and jerky as I sometimes write.
But yunno, if we were talking Asparagus, then the obvious thing would be to just grow some and even surplus, and share it with your neighbor.
Some pondering here . . .
Overall, does it seem the things we struggle and fight for -- like oil -- are the things that tend to harm US? Sort of seems like life could be easy if we would let it.
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