Oil is in everyone’s mind frequently, and in both the positive and in the bad regardless of what you think of the oil industry, it is the top most efficient source of energy worldwide. If there was no oil we’d be riding horses and buggies, or riding bikes to work and back.
It has been known that the oil business has a mythological atmosphere about it due to the way that it appears from the ground, and there are thoughts about Jed hitting the earth in Beverly Hillbillies and then it bubbles out from beneath. But in reality, that’s not the case, however it makes great stories.
We will not discuss the numerous reasons the oil industry being a beneficial thing however We would like to talk about the negative press it has received regarding the risks that are associated with investing in the oil industry.
David Goodnight says It is true that many people are not aware of oil-wells within Illinois However, there are around 700 oil fields and thirty thousand oil wells across the state. This is a dirty business and very few people would like to be doing this type of work, but we’re grateful for those who decided to work in this business.
When people consider making investments in oil fields, they imagine the dry wells and the unscrupulous investors such as Snidely Whiplash, who are hiding in the weeds, waiting to prey upon another suspicious investor, who has money hanging out of their pockets. Another myth. The truth about making investments in oil wells lies that when you make this type of investment, you could at a minimum visit the site of the well to see the place where your money was put and speak to the person who you invested with to discover the facts whether it’s positive or negative. This is not the case when one invests in the market for stocks and mutual funds. This is the reason We wrote this article.
When people invest money, they typically are purchasing stocks or REITS, mutual funds or some other investments that We don’t know the name of and how do they go about it? Online, with an LCD screen on top of them, or in the Edward Jones or Financial Institution’s office. In the end, you do not know what you’re investing your money into. You may have a pleasant conversation with the person whom you send the check however that’s about it. It is also risky? Can you say “Bernie Madoff?”
The purpose of David Goodnight in this article is not to denigrate the benefits of the investment in bonds, stocks mutual funds, stocks, CD’s or any other financial instrument. It’s just to inform the public the fact that investing in oil isn’t more risky, and often more secure than various financial products promoted by the various financial institutions.