I pay More at the Pump, But my 401K is all in Oil stocks, is this the New PassBook Savings?

Question

I am paying more at the Pump but My stocks are Making Me rich!

Answer 1

I'm with you on that one. You get it back ten times over.

Answer 2

Well congrats to you Miss Exxon! You are paying more everywhere, not just at the pumps but because of the price at the pumps. 10 cents a gallon profit my ***. Are you trying to tell me that when gas is 1.50 a gallon they make the same profit as when at 3.00? If so, then why every time gas prices go sky high oil companies are recording record profits? I am to believe people drive MORE when prices are higher? BULL****!

Answer 3

Oil companies make ten cents profit per gallon. Prices are going up because of undue government interference. Shut up, sit down, and get rich.

Answer 4

actually right now it's not the price of crude that is causing the high gas prices... the refineries are at 86%.. so they are causing a drop in supply while at the same time the demand has stayed constant/risen.. so they are the ones getting the money..


just thought you should know :)


P.S. the stated reason for the lower production injuries, upgrading and training of new personnel .... I'll leave all opinions of that for people to infer themselves.

Answer 5

Hold on to your oil stocks! Now that the dollar is falling any commodity is a good investment. Imports are going to get more expensive and since we import more than we export, your dollar won't go as far.
Thanks Chimpy!

Answer 6

I doubt you have enough stock to be "rich."

You're making a little money, maybe. But the only people getting rich are the major shareholders, and those people aren't on Yahoo Answers all day gloating; they're out making money.