I know this is selfish and evil, but I need to get this out of my system.
Of course, the rising oil prices cause sharp momentary pain at the gas pump and gradually increasing pain at retail stores; but, there is a silver lining to this dark cloud that I am discovering about now.
If you head over to a campus recruiting department at any college around this time of the year, you will know what I am talking about. Companies are picking up students like hot cakes - full time, part time, interns, and co-ops.
It’s difficult to trace the exact routes of all the excessive oil profits, but I guess you can observe some end effects when it comes to recruitment stats. Big companies, small companies, service companies, manufacturing companies, software companies, and many other companies … the money eventually trickles down to all of them and then they all try to get a piece of the action.
The rising demand for oil (one of the reasons why oil prices are hovering high up) and record oil profits in recent times have spurred a major chunk of the industry into a frenzy of new projects, all over the world, worth many billions of dollars. And now, they are needing thousands of people to work on these projects - in US and abroad.
I cannot say whether this is just a short term boom or a fairly sustainable trend, but unless all the developing countries (currently developing … and those which will be on rapid development paths in future) suddenly stop using oil or unless they figure out a way of using sea water as fuel, I would stay bullish on the prospects of this trend sustaining itself for several years down the line.
Right now, “strike while the iron is hot” seems to be my favorite phrase. It appears like a good time to head out there and grab a piece of the recruitment pie. 
Ironically, a couple of days ago, I wrote something about oil consumption and environmental concerns. Oh, well … three cheers for hypocrisy .. hyp hyp hypocrisy!
Image credit: edweb.sdsu.edu
{ 8 trackbacks }
{ 9 comments… read them below or add one }
I’m glad that oil prices are rising too. Rather than bitch and moan about the few extra dollars I’m spending, I just invest a little bit in the companies that are reaping these huge profits. The money I make far outweighs the increased costs associated with oil prices.
I know a lot of people who complain about oil prices. In my opinion, people should hedge their oil exposure in the real world by owning oil stock! That way, when oil prices go up, they pay more at the pump, the their stock will most likely be worth more. On the other hand, if oil comes down, the stock will come down also, but their heating bills will also decrease.
I would like to see oil prices triple for a short time. Maybe we will actually try to obtain an actual alternative instead of talking about it. The reason why it has been so long is there is no easy money in alternative fuels….yet.
People can complain all they want about oil prices, but it isn’t going to change the economics. We use more oil every day, oil reserves are finite, prices will go up. I agree that is why one should have oil and gas exposure in their portfolios. I took it a step further and am working for an exploration and production company. The higher the price goes, the better my stock options do…
I believe we should take over Iran and take over their oil reserves and everyone gets free gas in the United States for a full year.
I have quite a bit of oil/gas exposure in my stock portfolio too and is happy that about rising oil prices because I also work 1.2 miles away from work.
However, unfortunately not everyone has enough money to put into gas/oil stocks for the rise in oil prices to cover the difference they pay in gas prices.
So it’s good for some and not others.
Good old oil income trust, I knew I was making the right choice by keeping them. Hurray for Alberta and their oil sand!!
Seriously, the only way to make money out of our capitalism system is to go with it. Don’t try to go against the rise of the price of oil, think about how you can make money out of it!
Good way to cash in on high prices is to buy up natural gas leases. These closely associated leases (nat gas and oil prices always rise and fall in unison) can be had in Colorado–yet–for diret cheap.
Rising gas prices may be alright for people who make enough money to cover the cost (which a majority of the U.S. population don’t) and for people who live in big cities with mass transportation but there are people that do not live in big cities and have to drive to work and school. We do not have mass transportation. I’m in college and I spend about $400 a month on gas… that’s more than my rent or my car payment; which is absolutely ridiculous! Am I supposed to stop driving to work or school and walk ten miles when it’s forty below zero? So all of you that think it’s great that gas prices keep rising are extremely selfish. Just remember when gas keeps rising and rising it’s going to affect you eventually. Everything that you buy has to be transported and if gas keeps rising they are just going to keep getting more and more expensive and with the economy declining your paychecks aren’t going to increase…. so keep hoping for higher gas prices, it’ll bite you in the ass!
Leave a Comment