How can I cash-in on these high gas prices without spending thousands of dollars on an oil stock?
larrynpn asked:
The big oil companies and the Arabs are making millions off these high gas prices. How can the little guy make a buck in all this mess?
The big oil companies and the Arabs are making millions off these high gas prices. How can the little guy make a buck in all this mess?
Find oil in your back yard!
these companies are only making money because we have become too dependant upon oil for our lifestyles.
Rather than try and exploit this why not try to SAVE money by choosing greener alternatives, energy light bulbs would be biggest and cheapest step.
ride a bike everywhere
The people who are making money off these prices are doing so because they invested. You should not expect to make money without putting up some investment of your own.
When the prices are high. Then the best way to make money is to sell at those high prices.
On the other hand, buying at high prices is a good way to loose money. Because you might not be able to re-sell at an even higher price.
This is true for both oil futures and for stocks of oil companies.
The reason why Arabs are making all this money is because they have oil to sell. And if you have nothing to sell, then there is no way you can make money the way they make.
Most experts are recommending the USO fund. It is an ETF that allows liquid trades like a stock.
Invest in chevron stocks.
Here are a few good oil stocks, that are fairly cheap.
Pyramid Oil Co (PDO) $9.95 a share. Pyramid is a Oil drilling company who operates in the US and drills in the US.
Basic earth science systems inc (BSIC) $1.96 a share. BSIC explores crude oil and natural gas
These are very good stocks, and are fairly cheap.
Good luck