Remember when I suggested you should buy some oil stock? It was about a year ago. You can refresh your memory here. At that time, Marathon Oil (ticker symbol MRO) was $8 a share. MRO closed on Friday, April 7 at $16.26. You would have doubled your money in a little over a year. I know Maggie Mason bought some MRO and I hope you did, too. With the latest crisis in Syria and the looming crisis of North Korea, this would be a great time to buy some oil stocks. Oil always goes up when there’s an international incident. And with the present Administration, I suspect there will be a lot of crisis situations during the next four years. You might as well profit from it.
One thing you can count on in a Republican Administration: Gas Prices go up.
Dan, you are so right! AAA is predicting a 40 cent rise in gas prices for the “Summer Season.”
STEVE MARTIN: “I bought Cardboard when it was 4 cents a ton. Now it’s up to 8 cents a ton. I bought six tons, so you can figure the profit.”
Dan, Steve Martin is one of my favorite economists!
Jeff is too diplomatic to comment, but I revel in it.
My father loved to say ” if we don’t do it, somebody else will”. My father’s Archie Bunker philosophy was something I was ashamed of.
Buying stock to make money from any fossil fuel is rather hypocritical for those of us who don’t look forward to the already occurring climate catastrophe. Additionally, the people who run the oil companies have to be among the most offensive people around.
Why not invest invest in the future?
Jackie
Jackie, I would love to invest in the Future. Solar panel prices are falling and there are giant windmills south of Buffalo. But, for the next 20 years or so, oil is going to be the main fuel for our cars and power plants (although Trump wants to bring back COAL!). Electric cars just have not caught on. Hydrogen cars are years away. So right now, we’re stuck with oil to run our civilization. Oil prices are affected by international political circumstances (which look Bad). Oil prices going up seems to be a No-Brainer.
You can’t make a profit until you sell. Since you’re not selling, it’s only paper profit.
Rick, true. But the quarterly dividend checks are Real Money.