Time to buy oil?

[TheBreeze]

Is it time to buy oil? The two year low on the USO is around 44 (made back in January 2007) and the USO is trading around 50 now. With countries around the world lowering interest rates and printing money like crazy, I don’t see how oil isn’t higher a few years from now.

I’ve already bought some USO and plan to buy some more over the next few weeks. The only risk I see is some new technology that makes solar cheaper than burning oil. I don’t think solar can compete with $50 oil, so that doesn’t seem like too big of a risk.

I’m gonna’ be reyotch, beyotch!

[SD Transplant]

I was thinking the same thing this morning. Oil seems to go lower & lower. I some believe the $60/barrel was a floor, I think we’re already passed that point now:

Oil 58.08 +1.12% (07 Nov 2008 10:53 EST )

I’m gonna’ be reyotch, beyotch!

LOL….I needed a little good laugh this morning……

[SD Transplant]

I was thinking the same thing this morning. Oil seems to go lower & lower. I some believe the $60/barrel was a floor, I think we’re already passed that point now:

Oil 58.08 +1.12% (07 Nov 2008 10:53 EST )

I’m gonna’ be reyotch, beyotch!

LOL….I needed a little good laugh this morning……

[SD Transplant]

I was thinking the same thing this morning. Oil seems to go lower & lower. I some believe the $60/barrel was a floor, I think we’re already passed that point now:

Oil 58.08 +1.12% (07 Nov 2008 10:53 EST )

I’m gonna’ be reyotch, beyotch!

LOL….I needed a little good laugh this morning……

[SD Transplant]

I was thinking the same thing this morning. Oil seems to go lower & lower. I some believe the $60/barrel was a floor, I think we’re already passed that point now:

Oil 58.08 +1.12% (07 Nov 2008 10:53 EST )

I’m gonna’ be reyotch, beyotch!

LOL….I needed a little good laugh this morning……

[SD Transplant]

I was thinking the same thing this morning. Oil seems to go lower & lower. I some believe the $60/barrel was a floor, I think we’re already passed that point now:

Oil 58.08 +1.12% (07 Nov 2008 10:53 EST )

I’m gonna’ be reyotch, beyotch!

LOL….I needed a little good laugh this morning……

[TheBreeze]

[quote=SD Transplant]I was thinking the same thing this morning. Oil seems to go lower & lower. I some believe the $60/barrel was a floor, I think we’re already passed that point now:

[/quote]

No idea if this is the “exact” bottom. I bought a nice chunk of USO today and plan to buy more over the next several weeks/months (unless oil happens to shoot higher from here). I plan to hold for a few years.

If the USO goes to 45 I’ll buy some more, 40 still more, 35 still more. If the USO drops below 30, I’ll stop buying. I’d like to have about 20% of my non-401(k) money in oil before all is said and done. That depends on the price action from here. If USO starts to rise and doesn’t stop, I may not buy anymore.

[TheBreeze]

[quote=SD Transplant]I was thinking the same thing this morning. Oil seems to go lower & lower. I some believe the $60/barrel was a floor, I think we’re already passed that point now:

[/quote]

No idea if this is the “exact” bottom. I bought a nice chunk of USO today and plan to buy more over the next several weeks/months (unless oil happens to shoot higher from here). I plan to hold for a few years.

If the USO goes to 45 I’ll buy some more, 40 still more, 35 still more. If the USO drops below 30, I’ll stop buying. I’d like to have about 20% of my non-401(k) money in oil before all is said and done. That depends on the price action from here. If USO starts to rise and doesn’t stop, I may not buy anymore.

[TheBreeze]

[quote=SD Transplant]I was thinking the same thing this morning. Oil seems to go lower & lower. I some believe the $60/barrel was a floor, I think we’re already passed that point now:

[/quote]

No idea if this is the “exact” bottom. I bought a nice chunk of USO today and plan to buy more over the next several weeks/months (unless oil happens to shoot higher from here). I plan to hold for a few years.

If the USO goes to 45 I’ll buy some more, 40 still more, 35 still more. If the USO drops below 30, I’ll stop buying. I’d like to have about 20% of my non-401(k) money in oil before all is said and done. That depends on the price action from here. If USO starts to rise and doesn’t stop, I may not buy anymore.

[TheBreeze]

[quote=SD Transplant]I was thinking the same thing this morning. Oil seems to go lower & lower. I some believe the $60/barrel was a floor, I think we’re already passed that point now:

[/quote]

No idea if this is the “exact” bottom. I bought a nice chunk of USO today and plan to buy more over the next several weeks/months (unless oil happens to shoot higher from here). I plan to hold for a few years.

If the USO goes to 45 I’ll buy some more, 40 still more, 35 still more. If the USO drops below 30, I’ll stop buying. I’d like to have about 20% of my non-401(k) money in oil before all is said and done. That depends on the price action from here. If USO starts to rise and doesn’t stop, I may not buy anymore.

[TheBreeze]

[quote=SD Transplant]I was thinking the same thing this morning. Oil seems to go lower & lower. I some believe the $60/barrel was a floor, I think we’re already passed that point now:

[/quote]

No idea if this is the “exact” bottom. I bought a nice chunk of USO today and plan to buy more over the next several weeks/months (unless oil happens to shoot higher from here). I plan to hold for a few years.

If the USO goes to 45 I’ll buy some more, 40 still more, 35 still more. If the USO drops below 30, I’ll stop buying. I’d like to have about 20% of my non-401(k) money in oil before all is said and done. That depends on the price action from here. If USO starts to rise and doesn’t stop, I may not buy anymore.

[Arraya]

There are many higher dollar per barrel projects being mothballed, below 60 there are many. Opec can’t cut production fast enough, and many countries are close to civil unrest due to lack of oil revenue. Also the recent plunge is changing peoples habits that the $4 a gallon seemed to curb.

OTOH, Economic activity is grinding to a halt and job losses mounting with no end in sight. Consumption is dropping like a rock.

X factor 1: How cold will it get this winter? This matters.
X factor 2: Any oil related “event” could double or triple oil over night
X factor 3: Monetary-Hyper inflation/currency crisis

Richard Rainwater billionaire energy investor just dumped like 300 million back in @ $70ish. He was one of the contributing factors of why I dumped back in July.

When equilibrium is met oil will rocket up with a quickness.

[Arraya]

There are many higher dollar per barrel projects being mothballed, below 60 there are many. Opec can’t cut production fast enough, and many countries are close to civil unrest due to lack of oil revenue. Also the recent plunge is changing peoples habits that the $4 a gallon seemed to curb.

OTOH, Economic activity is grinding to a halt and job losses mounting with no end in sight. Consumption is dropping like a rock.

X factor 1: How cold will it get this winter? This matters.
X factor 2: Any oil related “event” could double or triple oil over night
X factor 3: Monetary-Hyper inflation/currency crisis

Richard Rainwater billionaire energy investor just dumped like 300 million back in @ $70ish. He was one of the contributing factors of why I dumped back in July.

When equilibrium is met oil will rocket up with a quickness.

[Arraya]

There are many higher dollar per barrel projects being mothballed, below 60 there are many. Opec can’t cut production fast enough, and many countries are close to civil unrest due to lack of oil revenue. Also the recent plunge is changing peoples habits that the $4 a gallon seemed to curb.

OTOH, Economic activity is grinding to a halt and job losses mounting with no end in sight. Consumption is dropping like a rock.

X factor 1: How cold will it get this winter? This matters.
X factor 2: Any oil related “event” could double or triple oil over night
X factor 3: Monetary-Hyper inflation/currency crisis

Richard Rainwater billionaire energy investor just dumped like 300 million back in @ $70ish. He was one of the contributing factors of why I dumped back in July.

When equilibrium is met oil will rocket up with a quickness.

[Arraya]

There are many higher dollar per barrel projects being mothballed, below 60 there are many. Opec can’t cut production fast enough, and many countries are close to civil unrest due to lack of oil revenue. Also the recent plunge is changing peoples habits that the $4 a gallon seemed to curb.

OTOH, Economic activity is grinding to a halt and job losses mounting with no end in sight. Consumption is dropping like a rock.

X factor 1: How cold will it get this winter? This matters.
X factor 2: Any oil related “event” could double or triple oil over night
X factor 3: Monetary-Hyper inflation/currency crisis

Richard Rainwater billionaire energy investor just dumped like 300 million back in @ $70ish. He was one of the contributing factors of why I dumped back in July.

When equilibrium is met oil will rocket up with a quickness.

[Author]

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