The price for a barrel of oil has broken $90, the highest it has been since 2014. A year ago, I paid $2.16 a gallon for gas. Two years ago, it was $1.87. Today, it is $2.99. Of course, Texas has some of the lowest gas prices. It is around $5 a gallon in California.
Back in the days when I watched Bill O'Reilly, he would declare that some nefarious cabal was setting the gas price to screw 'the folks' to benefit fat cats on Wall Street. He never got around to explaining why the price would go down. Having studied economics and having a basic understanding of supply and demand, I had no trouble offering reasons why the price rose; this was shortly after Hurricane Katrina.
If Bill really thought a rising gas price benefited the holders of oil stocks - it does - then he should have bought oil stocks to make what he thought would be an obvious profit. I forget who suggested that at the time, but I took it to heart. When I started buying individual stocks, one of the first things I did was buy an oil stock. When the oil price falls, I celebrate filling my car with cheap gas. When the price soars, I celebrate that I'm a fat cat. Right now, I'm a fat cat paying for expensive gas. In 2020, my oil stocks crashed, but I had cheap gas.
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