re: Oil stocks...are you buying?

You don't think we haven't always been truly able to produce it faster than it can be consumed? The supply will always be manipulated to make it profitable in relation to demand.

quote:

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Who cares if the population is growing if the rate and efficiency at which they pull oil out of the earth is increasing just as fast?

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In the short term maybe. In the long term it's a non-renewable resource and it will get more expensive as supply gets gobbled up over the next 100 years.

As for oil stocks and the short term, we have seen a lot of ups and downs over just the past few years. Just wait six months or a year, things will change. I will be very surprised if I haven't sold calls on my oil stocks by the end of this year. There is just too much fluctuation in the market and in the world.

I would sell more puts on oil stocks right now if I hadn't already done a big chunk. Oil may or may not have bottomed out yet, but it's way down and it will come back up.