It was only a matter of time before OPEC got greedy. Of course shutting
down the Tosco refinery in CA didn't help either.
I've got a hedge strategy for those of us who have a V8 and have no
intention of buying Hondas. Consider setting up a direct deposit from
your paycheck to an online brokerage account (etrade, fidelity, datek,
etc) and start buying oil company stocks. Not just the Exxons and
Chevrons of the world, but the oil services guys like Global Marine,
Grey Wolf, Falcon Drilling, Parker Drilling, etc. These are all the
work-a-day guys that do the exploratory and production drilling for the
big boys. Most of the oil service stocks are really undervalued right
now...like a couple of bucks a share and are due for a run-up as oil
prices increase, the fat cats make more profits and start spending on
exploration again. You don't need to be rich to do this...maybe $25-50
per week or paycheck over a couple of months adds up pretty quickly, and
you probably won't miss it. But in two years, you could be sitting on a
pretty hefty pile of stock if this trend continues, and you won't mind
paying $2/gallon for gas when you're getting quarterly dividends off
your stocks.
Or just buy another carton of Lucky Strikes and a case of Burgie and
gripe when you pull your wallet at the pumps.
Cheers and good luck,
fish
99 Ram 1500 Laramie SLT QC 5.9 4x4 :)
This archive was generated by hypermail 2b29 : Fri Jun 20 2003 - 12:13:23 EDT