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

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SturgeonsLaw 12 minutes ago | parent | prev [-]

> You get rich by working hard

Come on now