Quote: (12-13-2015 02:25 PM)SunW Wrote:
jake1720 thanks; I understand where you're coming from on that point. I've seen the same in the financial industry: advisors telling their clients to buy certain funds while taking out short positions against them. I despise people like that, but I also know that every industry comes with fraud. There is a difference between fraud and urgency if you know how to catch it. Most people may not know this, but the reason to avoid this isn't because of fraud - that's just as ubiquitous in the financial industry - but avoid it because a person can't sense an urgent seller from a fraudulent seller.
I hope I'm wrong, but I fully expect Hillary to win and to make it very difficult on oil for at least four years, if she's a one term president. If you own oil, you will not want to sell; you'll want an idle a well and oil in storage and wait it out. Oil will have its day again. My proof of this is that Saudi Arabia is in financial trouble right now (too much debt) and is producing tons of oil to pay its bills, but it's running lower on oil. Most people don't realize how much debt SA has acquired over the last few years, but it explains why they can't afford to cut back on oil production. When it runs out - and it will - there's going to be a massive bear trap waiting for oil bears.
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I'm assuming you are referring to produced oil sticking in a tank, I was referring to buying physical well royalties or producing wells.
I'm doing both, though on the latter has a few options including owning land where oil can be produced when I find an owner who's facing a liquidity squeeze.
Can't disagree with any of that.