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  1. #1
    Upgrading my engine DXchulo's Avatar
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    Would you buy stock in an oil company?

    I'm a commuter and the wife and I have "only" 1 car between us. I must admit that I ride my bike for mostly selfish reasons (it's fun, it saves me money, it keeps me healthy, etc.), but I also like the fact that riding to work is better for the environment than driving to work. I'm not a huge environmental activist or anything, but I try to do my part by recycling, not using much electricity, conserving water, etc.

    I recently started an IRA and, obviously, I want it to grow as much as possible. I don't want to go too far into the specifics, but I do think there is money to be made in the oil industry. Would it be wrong to buy stock in an oil company? Am I killing the environment by supporting the evil oil industry? Does it not matter because plenty of people will invest if I don't? Is it a good thing to support a company that extracts oil in a more environmentally friendly manner than others, or is supporting any oil company at all the wrong way to go?

    What about alternate energy sources? If gas keeps getting more and more expensive surely some of them will take off, right? Is there just as much money to be made there?

    Would you think twice about buying stock in an oil company, or would you buy any stock that you felt would make you money?
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  2. #2
    Banned. ModoVincere's Avatar
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    Quote Originally Posted by DXchulo View Post
    I'm a commuter and the wife and I have "only" 1 car between us. I must admit that I ride my bike for mostly selfish reasons (it's fun, it saves me money, it keeps me healthy, etc.), but I also like the fact that riding to work is better for the environment than driving to work. I'm not a huge environmental activist or anything, but I try to do my part by recycling, not using much electricity, conserving water, etc.

    I recently started an IRA and, obviously, I want it to grow as much as possible. I don't want to go too far into the specifics, but I do think there is money to be made in the oil industry. Would it be wrong to buy stock in an oil company? Am I killing the environment by supporting the evil oil industry? Does it not matter because plenty of people will invest if I don't? Is it a good thing to support a company that extracts oil in a more environmentally friendly manner than others, or is supporting any oil company at all the wrong way to go?

    What about alternate energy sources? If gas keeps getting more and more expensive surely some of them will take off, right? Is there just as much money to be made there?

    Would you think twice about buying stock in an oil company, or would you buy any stock that you felt would make you money?
    given today's political climate and the fact that the current tax code will probably change dramatically over the next few years...no I would not.

  3. #3
    Senior Member skiahh's Avatar
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    I own some XOM. It's done well....
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  4. #4
    austropithicus
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    Even if it was profitable, I would not buy stock in an oil company. Would you sell crack to children?

  5. #5
    Ride, baby...RIDE! High Cadence's Avatar
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    Quote Originally Posted by austropithicus View Post
    Even if it was profitable, I would not buy stock in an oil company. Would you sell crack to children?
    It's probably just me, but that's a little extreme.

    Oil is used in many things other than just making a car run. A large majority of items we enjoy today - such as the computer YOU posted the above message on - would not have been able to have been made without oil.

    There is no such thing as a non-consumer in todays day and age, no matter how much you try. The simple fact that you are alive means you are a consumer.

    Stop being a hypocrite.

  6. #6
    Senior Moment Member Gee3's Avatar
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    If you're gonna buy, XOM is the one to buy. No matter what they always seem to make a profit. Yet curiously they still cry poor mouth when asked about the billions in profits vs. the price of gas at the pumps... Hhhmmm...?!?!
    This day will be over... one of these days!

    "I have cancer, cancer doesn't have me."
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  7. #7
    austropithicus
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    Quote Originally Posted by High Cadence View Post
    It's probably just me, but that's a little extreme.

    Oil is used in many things other than just making a car run. A large majority of items we enjoy today - such as the computer YOU posted the above message on - would not have been able to have been made without oil.

    There is no such thing as a non-consumer in todays day and age, no matter how much you try. The simple fact that you are alive means you are a consumer.

    Stop being a hypocrite.
    I don't use any. For example, my computer is made of oak.
    Last edited by austropithicus; 11-22-07 at 10:42 AM.

  8. #8
    Cactuar! sneefy's Avatar
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    Oh, God. Don't ask that question here. You will get every fanatic and zealot posting inane rants and nonsensical blabbing about everything anti-oil/car/suv/etc.

    Just some friendly advice.

  9. #9
    Spelling Snob Hobartlemagne's Avatar
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    Quote Originally Posted by austropithicus View Post
    I don't use any. For example, my computer is made oak wood.
    Like this one?


    The first rule of flats is You don't talk about flats!

  10. #10
    Gears? CliftonGK1's Avatar
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    Quote Originally Posted by austropithicus View Post
    Even if it was profitable, I would not buy stock in an oil company. Would you sell crack to children?
    Can I buy stock in schoolyard crack dealers?
    "I feel like my world was classier before I found cyclocross."
    - Mandi M.

  11. #11
    austropithicus
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    Quote Originally Posted by CliftonGK1 View Post
    Can I buy stock in schoolyard crack dealers?
    Yes. Send me a check.

  12. #12
    Climbing Above It All BikeWNC's Avatar
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    I own COP and SLB so yes I would. But I never hold anything forever. Like WalMart, it was wham, bam, thank you Sam!

  13. #13
    Dude wheres my guads? skinnyone's Avatar
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    Cleantech/Elan energy funds are the way to go. Had you bought Oil stock 10 years ago, you would have been set..

    I wouldnt buy oil stocks or the military-industrial complex. Call it senseless sensibilities.

  14. #14
    Senior Member Michigander's Avatar
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    I'm going to transfer my retirement fund from abatement to GE generator fans at some point. You can't go wrong with investing in an industry with no fluctuating prices.
    Bring back the Sig Test!


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  15. #15
    long time visiter Alfster's Avatar
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    Yes, I'm currently invested in a junior oil stock and a larger one. Ethics aside, oil prices may dip a bit during a downturn in the markets, however over a 5 year period you can be sure that it will be much higher. Another investment related to oil stocks are the builders of offshore drilling rigs. They're stock will go higher as oil co's have to rely more and more on offshore oil supplies. I hate to say it, however it's an obvious place to put your money into as the world's population continues to grow, developing countries continue to use more oil ... with a rapidly growing demand and oil supplies grow harder to find.

    BTW, I used to have some money in an ethical mutual fund. It was my poorest performing investment. I'd rather be able to retire sooner rather than later.

  16. #16
    Senior Member ryder47's Avatar
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    Environmentalism is great, who's going to argue with that. However this is about financing your later years, so unless the enviromentalist is willing to support your retirement invest your money where you want.
    Last edited by ryder47; 11-22-07 at 09:29 AM.

  17. #17
    Non Tribuo Anus Rodentum and off to the next adventure (RIP) Stacey's Avatar
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    The self serving hypocrisy in this thread is truly farkin' amazing.

  18. #18
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    Ummm... correct me if i"m wrong, but unless the stock is from an IPO or a new stock issuing, the oil company does not see dime one(directly) from the transference of stock from one party to another. Buy the stock and don't look back. My 2 cents ---flame suit on.

  19. #19
    unofficial roadie DirtPedalerB's Avatar
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    If I had a time machine the first thing I would buy is oil stock... because how else could I afford to put gas in the time machine.

  20. #20
    Peloton Dog patentcad's Avatar
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    Quote Originally Posted by DXchulo View Post
    I'm a commuter and the wife and I have "only" 1 car between us. I must admit that I ride my bike for mostly selfish reasons (it's fun, it saves me money, it keeps me healthy, etc.), but I also like the fact that riding to work is better for the environment than driving to work. I'm not a huge environmental activist or anything, but I try to do my part by recycling, not using much electricity, conserving water, etc.

    I recently started an IRA and, obviously, I want it to grow as much as possible. I don't want to go too far into the specifics, but I do think there is money to be made in the oil industry. Would it be wrong to buy stock in an oil company? Am I killing the environment by supporting the evil oil industry? Does it not matter because plenty of people will invest if I don't? Is it a good thing to support a company that extracts oil in a more environmentally friendly manner than others, or is supporting any oil company at all the wrong way to go?

    What about alternate energy sources? If gas keeps getting more and more expensive surely some of them will take off, right? Is there just as much money to be made there?


    Would you think twice about buying stock in an oil company, or would you buy any stock that you felt would make you money?
    This implies oil companies are evil. Incorrect.

    Only DocRay is evil. Fortunately you cannot buy shares of DR. Sadly you cannot liquidate him either.

  21. #21
    Third World Layabout crtreedude's Avatar
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    I am not an investment advisor and I don't play one on the internet - so I will give you an insider tip. A friend of mine owns many oil wells. He is selling them all and getting out of the business. He said too many people are getting into investing in oil and speculation, which is going to drive down the price.

    Now, this might be about owning your own well - or it might be about the overall industry. Not sure.

    Investing in oil for me is not the same as investing in tobacco for example. But, overall, since I do have a limited amount of investments (which is true of even Bill Gates) I invest in positive things. My current investment, for the few who don't know, is tropical hardwoods for the purpose of producing lumber and securing the land for a permanent rainforest. Lots of side benefits.

    It appeals to me to have my money do more than just make more money - though I will say the returns from growing tropical hardwoods is pretty nice.

  22. #22
    Senior Member skiahh's Avatar
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    Quote Originally Posted by crtreedude View Post
    I am not an investment advisor and I don't play one on the internet - so I will give you an insider tip. A friend of mine owns many oil wells. He is selling them all and getting out of the business. He said too many people are getting into investing in oil and speculation, which is going to drive down the price.
    Ummm... maybe your friend should stick to oil rather than finance? Speculators and investors increase demand and therefore price. Look at the housing market. Look at current oil and gas prices. Both driven much higher because of "flippers" who pop in, buy stuff, maybe do a little something to improve the product, wait for the demand to drive the price higher, then bail and take their profit.

    One of the big reasons house prices now are going down because the investors and speculators are bailing, increasing supply and decreasing demand. Basic econ 101.

    How do investors and speculators drive the price down in oil wells/oil?
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  23. #23
    ♋ ☮♂ ☭ ☯ -=(8)=-'s Avatar
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    No. I wouldnt buy stock in oil no matter how profitable.
    But I also dont support killing people or capitalism either,
    to keep that opinion in perspective.

  24. #24
    Third World Layabout crtreedude's Avatar
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    Quote Originally Posted by skiahh View Post
    Ummm... maybe your friend should stick to oil rather than finance? Speculators and investors increase demand and therefore price. Look at the housing market. Look at current oil and gas prices. Both driven much higher because of "flippers" who pop in, buy stuff, maybe do a little something to improve the product, wait for the demand to drive the price higher, then bail and take their profit.

    One of the big reasons house prices now are going down because the investors and speculators are bailing, increasing supply and decreasing demand. Basic econ 101.

    How do investors and speculators drive the price down in oil wells/oil?
    One word - bubble. Do you need more? Not sure I would consider someone who started as a roughneck in the oil fields and now is very wealthy stupid when it comes to oil. It is all speculation when you come down to it, but I would tend to bet on him. He thinks $100 is the top for a while. It will be interesting to see if he is right.

    After all, at 100 there are other sources that become economically viable.

    When the speculators push the value of something beyond its actually value - I flee for solid ground!

  25. #25
    Third World Layabout crtreedude's Avatar
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    One other point - oil is about supply side. If lots and lots of money gets poured into oil wells and such, that will increase production - right? There is lots and lots of oil available, just up to now it has not been economically feasable to extract it.

    But, if you just want to talk a pyramid scheme involving the value of stocks - make sure to get out before it goes too far. Good luck with that.

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