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I invested in some oil shares thinking it would help bounce back my portfolio. Didn't work very well. If you don't directly work for the oil industry, it doesn't help you.
Many, many years ago, I mentioned that we needed to get ready to not be so dependent on oil. I never said "stop using oil". I said we need to invested improving alternatives, especially for cars. This was back in 2006. 16 years later, we are still heavily depended on oil. I realize that the way things are, it's not going to change.
Problem is energy stocks never came back anywhere near pre covid peaks relative to oil prices. When oil was $60 again, energy stocks were still well below pre covid peaks. And even as high as they are now, they are still way way lower than when oil was last this high. The $10 barrel and plunge into negative must have really hurt thee companies so bad they could not even recover their stocks with $70 to $80 barrel oil as they were when oil was that level pre covid.
I'd like to update this thread by stating that in the twenty-four hours since I started this thread, the price of gasoline has jumped $0.10, in my area. We are officially at $4.00 a gallon, here in the Triangle... God only knows how much higher it will get...
As of today/this evening when it hit 70 and I took the convertible out for a spin to dinner, I confirmed it is up 50-70 cents around pittsbugh. no shortages, no line, just high prices. need to call marshall T Lucky. (<---you wont get it without googling)
I wonder if Americans cutting back on oil would do the trick.
I paid $4.29 last Saturday for mid-grade. We shouldn't have to cut back on oil. There is more than enough right here.
We should be cutting back on letting demented Joe Biden make any decisions before we end up in WWIII with more Americans dead, no food on the shelves, record inflation, 10 million more illegals, and gas at $8 a gallon.
This country is just coming out of a pandemic and a disaster in Afghanistan and going right into the toilet under the worst, most incompetent, brainless fool to ever sit in the White House.
I support cutting off Russian oil imports and am willing to pay the increased price gas if that happens.
That’s nice. The failed President you elected has stated through his spokesthing Jen Psaki that we will continue to buy Russian oil and fund the war in Ukraine.
Do the world a favor and sit 2024 out.
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