LIKE an athlete who has recently discovered steroids, the oil market just keeps setting new records. Over the past 18 months, the world has seen oil prices clear $40, then $50, then $60 a barrel, with each new record seeming to fall more effortlessly than the last.
Originally posted by Yoepus
Thats why I put my money in the caring hands of big oil.
Go XOM go!
Lucky you. I can't own individual stocks in my PA so I bought some XLE last year around $29. It's close to breaking $50 today, and I'm close to taking some profits.
Aug-09-2005 20:25
rainbow_marble
bling bling
Registered: Jul 2003
Location: København NV
VLO =
Aug-09-2005 21:53
Shakka
Supreme tranceaddict
Registered: Feb 2003
Location:
quote:
Originally posted by rainbow_marble
VLO =
Indeed. I have a hard time seeing where the downside risk primarily lies for refiners.
Aug-09-2005 22:03
rainbow_marble
bling bling
Registered: Jul 2003
Location: København NV
VLO's profit is through the roof, they are the only company that is able to make crappy cheap oil into a product that is good enough to be resold as quality oil. it seems almost unfair that they are the only ones with this technology, but im not going to be bitching since i own the stock haha
Aug-10-2005 16:55
Shakka
Supreme tranceaddict
Registered: Feb 2003
Location:
quote:
Originally posted by rainbow_marble
VLO's profit is through the roof, they are the only company that is able to make crappy cheap oil into a product that is good enough to be resold as quality oil. it seems almost unfair that they are the only ones with this technology, but im not going to be bitching since i own the stock haha
It's unfair that so many environmentalist nuts protest the building of any additional refining capacity in this country, therefore preventing additional fuel from being delivered to the market. It's not unfair that VLO has the edge in refining sour crude, that's called competitive advantage.
Aug-10-2005 17:19
donnybrasco
Supreme tranceaddict
Registered: Nov 2004
Location: L.A.
quote:
Originally posted by Shakka
It's unfair that so many environmentalist nuts protest the building of any additional refining capacity in this country, therefore preventing additional fuel from being delivered to the market.
Did they drive to the protest?
Aug-10-2005 20:16
Shakka
Supreme tranceaddict
Registered: Feb 2003
Location:
quote:
Originally posted by donnybrasco
Did they drive to the protest?
Dunno, but maybe they drove over the protesters and told them to go get real jobs.
Aug-10-2005 20:23
donnybrasco
Supreme tranceaddict
Registered: Nov 2004
Location: L.A.
quote:
Originally posted by Shakka
Dunno, but maybe they drove over the protesters and told them to go get real jobs.
I'd drive over one...but only with a Hummer or a Land Rover...dripping gas on them from my over-fed SUV as I pass.
Aug-10-2005 20:43
copaceticNfla
Junior tranceaddict
Registered: Mar 2005
Location: Global Nomad
Up more than 2 bucks since this thread started. At the rate it's rising, imagine it reaching $100 a barrel by the end of the year (my guess).
god ppl are so stupid. The reason why oil is going up is because of fear. The media keeps saying that oil is running out, even though there is enough oil to last us for another 50yrs. Also those oil corps such as XOM are to blame.
