10-31-2007, 10:34 AM
Why is oil the sacred commodity? It's an important part of our lives to be sure, but so is food and good single malt scotch.
All commodities are traded to some degree and/or on some level. When the production of oil exceeds demand, the price will come down. It'll happen. The world seems headed in that direction. The oil companies know this, and they're makin' hay while the sun shines.
I think it's overpriced but I attribute that to hype. It'll come down, or humans will figure out ways to keep from buying it. In the meantime, because it's obvious none of us solitarily have the ability to beat them, why not join them? "Sacrilege" you say. I say not. Oil company stocks are some of the hottest on the planet. I combined that fact with the advantage of an emerging international economy and bought a mutual fund in China with heavy exposure to perto-chemicals. I fully expect to see 160% return this year.
I know that other than my own personal efforts to save and conserve fossil fuel and look for alternatives (I take this responsibility very seriously), anything I personally do is going to have little to no impact with the oil companies nor the cost of a gallon of fuel. If you're as tired as I was of complaining about the pump price, you can change the lyric to cha-ching.
All commodities are traded to some degree and/or on some level. When the production of oil exceeds demand, the price will come down. It'll happen. The world seems headed in that direction. The oil companies know this, and they're makin' hay while the sun shines.
I think it's overpriced but I attribute that to hype. It'll come down, or humans will figure out ways to keep from buying it. In the meantime, because it's obvious none of us solitarily have the ability to beat them, why not join them? "Sacrilege" you say. I say not. Oil company stocks are some of the hottest on the planet. I combined that fact with the advantage of an emerging international economy and bought a mutual fund in China with heavy exposure to perto-chemicals. I fully expect to see 160% return this year.
I know that other than my own personal efforts to save and conserve fossil fuel and look for alternatives (I take this responsibility very seriously), anything I personally do is going to have little to no impact with the oil companies nor the cost of a gallon of fuel. If you're as tired as I was of complaining about the pump price, you can change the lyric to cha-ching.