"Oil Price Climbs to New Intraday Record Associated Press - Oil prices hit a new intraday high Tuesday, surpassing the previous record of US$70.85, amid worries about supply disruptions in Nigeria and international tension over Iran's nuclear program."
I do indeed hope that the problems which are driving the price of crude higher everyday can be resolved peacefully. But with each new oil price record, things get tougher and TELOZ becomes more valuable.
Should oil indeed reach $100 to $150, all of the world's economies will suffer, and that isn't good, no matter which stocks we hold. In the crazy event of a new war with Iran, the "balance" in the Middle East, teetering now, could easily erupt into WW III. Don't think so? I surely hope you're right.
For now, though, I will add to position, and hope for a peaceful and sensible outcome. But the days of oil prices at $30, and maybe even $50, would appear to be over.
When asked by Larry Kudlow in the interview televised today on CNBC if he felt the statement, "The actions of those on flight 93 were the first counter attack in World War III", was true, Bush answered yes.
I am optimistic that we will be spared any major damage this time around, if only because we were so clobbered last year. Wishful thinking, maybe, but the law of averages and all...
Also, PPS of course fluctuates, and keeping some cash reserve to buy on dips, even those caused ny mom nature, is as you say prudent. But it doesn't change the fact of the reserves being in the ground, er, seabed, does it? It's going to come out of there eventually!
And when it does, what if oil is double where it is now? I am NOT hoping that is the case by any means, but this Trust is my "secret weapon" if any of the bad-to-worse scenarios should come to pass. Oil AND gas reserves, in our hemisphere, and when we will most need them.
That was my point, my friend. Good luck, and I say that patience is a virtue!
Danngor tells us, "Intelligence requires a discussion of all factors that affect an investment, so wise up, and try to learn something."
Perhaps you learned a lot from these comments but I did not...."The elitist snob know it alls have created the screwed up world we have today by appeasing all the wackos in the world instead of doing the tough right thing. nuke Iran before it nukes us or our allies. It is a an insane group of sick bastards living in the 10th century and a threat to everyone in the world. Wake up before it is too late..."
at least so far as investing is concerned.
But I have no interest in continuing this discussion, lest I do what I just suggested others not do.