For those who think that oil will go to $200 per barrel, consider: coal to oil conversion.
This was done on an industrial scale in South Africa during their own oil embargo due to apartheid. There were plants that would do 100,000 barrels per day or more working during that time. You can use high sulfur coal for this since the sulfur can be largely removed during the processing into oil.
This is not a price the United States needs to pay since we have plenty of coal reserves. Let those without coal reserves pay $200 per barrel.
Of course, you may see $200 per barrel just due to devaluation of the dollar. If the dollar is that cheap, then US coal is likely going to be that cheap as well.
When oil goes to $50 or $60 per barrel again, I would buy OIL ETF. Last time I traded that ETF, I made $40.
