As someone who has looked into investing in oil companies, and who has done a lot of research, I have some insight. The biggest problem is finding oil.
If you are looking for crude.....look not farther than storage facilities, and the hugh number of tankers lumbering off shore. What your research failed to show you is the real problem is refining. Controlled by oil companies. I live in oil country have relatives working for oil companies. When you control the spigot on the refined product....you control the price. Answer a couple of questions since you have done research.
1. The govenor of Montana has stated that there is enough coal under his state that could produce diesel and gasoline for the 200 years. He claims to be able to deliver said products to the pump for about $1.50/gal. A plant in Missouri in the late '50 had production up to 200,000 gallons of diesel and gasoline per day from coal. What has become to the govenor's claim, and what happend to the plant in Missouri?
2. Aside from hurricane disruptions, how long are the lines at the gas stations? Who has been waiting in line at the pump??? Where is the shortage?
By now you should have figured out that speculators have gotten control of the market. Look what they did to natural gas. Nearly tripled the price with the Chicken Little Syndrome. They profited nicely, some sanity returned to the market, and look where the price is now.
It's a game and unfortunately we're along for the ride......just like in the early seventies.
