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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: peter michaelson who wrote (111899)10/15/2008 12:21:27 PM
From: Paul Kern  Read Replies (2) of 206214
 
I want to start accumulating oil for the long haul - 10 years say.

Buy a futures contract. I believe that they go to eight years out.

Buying and storing oil won't work. You would pay about a dollar a barrel a month to store and insure it so storing it for 10 years would cost $120 plus inflation cost increases.

Also, it degrades over time.
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