I wish I could downvote this, because what a bunch of baloney! Unless you have hundreds of thousands, and to be precise millions, invested in oil already, you're not going to see any significant changes to your portfolio. The rich will get richer playing the market, the regular folk are left out as always paying the price.

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stickfigure 2 hours ago | parent | next [-]

Big US oil companies like Exxon, Chevron, Conoco, et al are mostly owned by mutual funds and index funds. So it really is "regular folk", though of course not everyone has the same size 401k.

	▲	ggm an hour ago \| parent \| next [-]
		Superannuation in Australia is most typically a not-for-profit mutual fund. So .. yes. Most Australians invest in "industry super" which means the union backed nfp model.
	▲	georgemcbay an hour ago \| parent \| prev [-]
		> So it really is "regular folk", though of course not everyone has the same size 401k. Depends on how you define "regular folk". 40% of American adults don't have any retirement savings account at all. And entirely unsurprisingly whether they do or not correlates extremely strongly with income/wealth. So one could easily claim that the further from actual "regular folk" you are the more likely you are to benefit.

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cpncrunch 2 hours ago | parent | prev [-]

Anyone can decide to put their spare cash or retirement funds into oil stocks, but I don't think that it's a recipe for getting rich. Renewable energy is rapidly replacing oil, and if the Strait of Hormuz opened and the Ukraine war ended, oil prices would sink and you would end up with huge losses.

Nobody really gets rich by playing the market. You get rich by working hard and/or starting your own business, and investing in a diversified portfolio of index funds and dividend paying blue chips.

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lesuorac 2 hours ago | parent | next [-]

Let's not put the horse before the cart.

Exxon is up 40% year-to-date (YTD), BP is up 20% YTD while SNP500 is up 12% YTD.

So I'm not even sure the premise of this tangent is correct; oil stocks aren't shown to be the recipient of the current price spike.

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cpncrunch 2 hours ago | parent [-]

>Exxon is up 40% year-to-date (YTD), BP is up 20% YTD while SNP500 is up 12% YTD.

But it's not sustainable in the medium term.

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ggm an hour ago | parent [-]

> But it's not sustainable in the medium term.

You think this is the only basis of investment in a large fund? You think they don't make plays which respect this fact, in their risk profile?

	▲	cpncrunch 3 minutes ago \| parent [-]
		That's the point I was making.

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SturgeonsLaw 9 minutes ago | parent | prev [-]

> You get rich by working hard

Come on now