Friday 11 June 2010
BP Again.
Hold on there. British Pensioners are complaining about President Obama destroying their pensions because he is talking down BP share prospects? In 2003 a major report stated that Earth would run out of oil within twenty years. I repeat: No oil in about thirteen years. NO OIL. Why would a Finance company, or insurance company or investment advisor suggest to anyone to invest in oil as a pension commodity. If I was 18 year old and had two ounces of intelligence (grey matter) between my two ears I would know if I was buying a pension to provide for my family on my death in 2060 I would not invest in oil. There will not be oil in 2060. There will be no oil on planet earth by 2025. Why did the BP disaster happen? BP were looking for oil five miles under the sea. There's probably more on the moon. Don't blame Obama. Blame greed. Greed. A pension is for your protection when your old and feeble. Not for your financial advisor to get old and rich.
Subscribe to:
Post Comments (Atom)
Meh, until we find a decent alternative to oil the oil companies will just push up the prices so they continue to make huge profits on whatever it costs them to keep supplying us with oil. The reports that we're running out of oil are probably just excuses to bump up the prices even further. Oil companies are still an excellent investment.
ReplyDelete