Should You Dip a Toe Into Oil?
There may be some investment opportunity in oil's slide, writes contributor John Waggoner.
Every so often, you notice that something's really different. Hey, you might think, no one's worrying about the Ukraine these days. Or gosh, you might say, I haven't heard anyone say what a great guy Jeff Bezos is lately.
You probably haven't heard anyone gripe about gas prices recently, either: As of this writing, prices have fallen 31% the past 12 months, to an average of $2.32 a gallon for regular unleaded, according to AAA. The one exception is if you work in the energy industry--or if you've invested in it. Morningstar's recently revised long-term price outlook for oil is in the $64 to $70 range, and that makes energy stocks an interesting proposition for long-term investors.
John Waggoner does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.