Oil Company Stock Shares

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ewilkerson's picture
ewilkerson
Status: Gold Member (Offline)
Joined: Jul 18 2010
Posts: 390
Oil Company Stock Shares

I'm new to the site and have read a great deal on Peak Pil in the last eighteen months.  I have one question, though.  When Chris suggests owning oil, as well as Gold, does he mean stock in oil companies.  I was already investing heavily in them when I found the site.....Ernest

land2341's picture
land2341
Status: Gold Member (Offline)
Joined: Aug 20 2009
Posts: 402
Re: Oil Company Stock Shares

I cannot answer for Chris,  wouldn't dare! Foot in mouth   But I am willing to share my issues on this and to ask about how you have done in this regard.

I held quite a bit of oil shares prior to the crash of 08.  I had dumped my financial and insurance stocks in August (coulda made more if I had held out until September but timing is too risky)  but I had held onto my oil as I had thought that they would be moving up.    WRONG!  Most of them tanked badly.  I dumped some taking my losses on the chin,  but held onto others in the hopes of a rebound.  They have - some.  Nothing like where they were.  I held some on al levels of the chain from exploration to selling.  

If you're invested heavily,  where in the food chain are you heading??

ewilkerson's picture
ewilkerson
Status: Gold Member (Offline)
Joined: Jul 18 2010
Posts: 390
Re: Oil Company Stock Shares

I certainly understand your point.  I was lucky with the crash.  I had to liquidate a lot before it happened.  When I say heavily I should be more clear.  I have some holdings in alternative energy and other things and more than 10% in gold and silver.. I'm buying some survival items, too.  The economy is hanging on by a thread because of our 25 year consumption/debt drunken binge.  I just think oil is a good buy with what we have coming, but I guess if the stock exchanges close, I'll be up the creek.  It will be interesting to see things unfold.

land2341's picture
land2341
Status: Gold Member (Offline)
Joined: Aug 20 2009
Posts: 402
Re: Oil Company Stock Shares

Right now the money I have in is a hedge bet long on the economy!  LOL!  

We used to throw everything we could at the market but now it goes into tangibles.  Things we "need" and put off doing.  Stuff we want that we think we should get now while it is still available.  

I left my oil money in,  I wrote it off so if it is lost it is lost and if it wins I am pleasantly surprised....  I'd get into PBF if I could!  I am aiming for sour crude holdings and refiners.

We were well prepared for when DH got laid off,  and we are getting back up to speed now that he is working  again.  Prepping pays no matter what the disaster that befalls you.  I am looking for ways to store fuel now.  I know how,  I just cannot figure out how to get away with it.

We are also stocking up on barterables.....

ewilkerson's picture
ewilkerson
Status: Gold Member (Offline)
Joined: Jul 18 2010
Posts: 390
Re: Oil Company Stock Shares

Don't forget alcohol and tobacco as some of the best bartarables. 

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