I bought some oil stocks because the potential is there. The world is not ready (by a long shot) to say goodbye to oil and embrace green power. With the price going to 30 dollar and oil producing countries keep increasing their production, the price could easily fall back another 5-10 dollar.
I also did this .stocking oil..because i heard and see .on a natgeo if im not mistaken oil will be drain by estimated year 2023 . So it is not avisable for me to biy a car that will use only for 6-7 years .If the world was running out of oil in the next 7 years, nobody would be buying new cars which run on gasoline.
We still have 40-50 years before this happens, and you can expect technology to compensate before that
A dated article which explains this
http://www.telegraph.co.uk/news/earth/energy/oil/9867659/Why-the-world-isnt-running-out-of-oil.html
40-50 years is by far on the short side of estimates. Most estimates have us around 100 years still.
