Dec
31
Is it unpatriotic to invest in Oil?
Filed Under Politics
The entire US economy requires Oil at reasonable costs. All of our jobs are reliant on Oil.
That said, is it unpatriotic to put your investment dollars into Oil as a commodity? (I am not saying investing in Oil companies too— only Oil as a commodity.)
A lot of people who invest look at our economy and our national debt and see bad days on the horizon, so they move their money from stocks into commodities. Gold and Oil are two favorites as their prices consistently rise as people buy them.
Headline News said it costs $50 to produce a barrell of Oil. Oil is selling for $139 a barrell. Headline news says speculation on Oil has created that disconnect.
Are people being greedy at the expense of the nation to buy something our country needs (oil) instead of something we comparitively really don’t (gold)?
Gas cost $4 a gallon today. If Oil ran say $65 a barrell, it would cost $1.87 a gallon.
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9 Responses to “Is it unpatriotic to invest in Oil?”
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Its more illegal and unethical to invest in oil when kids are killed in theri country because you want their country’s oil
This is a capitalist economy. Capitalist economy means you don’t worry about what happens to everyone else in the economy. It has nothing to do with how you feel about the country whatsoever.
if you consider destroying your nation’s economy to make a profit as unpatriotic, than that is what it is, many corporatists don’t see things that way.
No, it isn’t. I trade stocks for a living, and I have bought and sold XOM and COP several times. And I used the money to do liberal things. I would say I used the money to drive to the voting place, but I walked to it. Rather patriotic of me, eh?
Regardless of the price of oil, my trades and investments, even if I hold the stocks long enough to vote in company matters, my vote would be so tiny as to not come anywhere close to affecting company policy. So, when investing, or trading for rather quick profits, I just need to make my money and then spend it patriotically.
I actually am highly invested in a solar stock at this time, and plan to do more of that, since we are giving out of oil. And it’s true, there is a huge amount of speculation in oil prices right now. I don’t know how much either, so I’m staying away from them.
But the main reasons for oil being higher is the war in Iraq, and because China needs more oil to make cheap stuff for Americans. And then since these Chinese are keeping their jobs and saving their money, they are buying more stuff too, which causes a greater need for more oil. So, when you buy the next flat screen TV or other big boy toy, then realize that the price you are paying is much higher than you could ever realize.
About as ethical as holding down a **** victim…
My job is not reliant on oil… no more than it is reliant upon me eating strawberries instead of oranges for breakfast.
Secondly, patriotism has nothing to do with it… right now, we need oil…
I think it would be best to at least spend SOME money on reducing that need for the future… call me crazy.
it is more unpatriotic to ask this same question again when no one cared enough to answer it the first time
I am not sure that jumping into a bubble when it is readily apparent it is a bubble already is a very wise investment course.
I sold my KMP when oil hit 120 a barrel because I figure I made money, and the wheels are going to come off this tricycle, and I don’t want to be on it when that happens.
Nope. My stocks are doing quite well. Making up for the years oil sold for less than $20.00/barrel.
This country is all about making money. I’ve played a little with oil futures. I made about $1,500 on a $2,000 investment. I see that as 375 gallons of gas for free. I use about 12 gallons of gas per week. That’s more than 30 weeks of free gas. I’ve taken some of my money out and all the money I made out. Now I only have about $1,000 in oil futures. Again, it is making me money at about the same rate it costs me to fill up weekly.
I drive a new 2008 Hyundai Elantra. It gets 33 mpg highway. If anything is patriotic, it’s getting 33 mpg! Gas costing $4 a gallon doesn’t bother me. I am happy with my modest car. It has nothing to do with my savvy investing.