- Joined
- Sep 19, 2007
- Messages
- 137
In the interest of pursuing knowledge, I bought this book to understand how the whole oil industry works...that is the main driver of my Real Estate afterall. David Finch relates the information fairly and keeps it interesting. Did you know that a SUV uses a barrel of oil (in the form of gas) to get from Edmonton to Fort Mcmurray? Did you know that the average Canadian uses 25 barrels of oil a year? Did you know that the average person in India uses a half a barrel? or the interesting one...the average ALBERTAN uses 60! (mostly because it takes so much oil to GET oil) Or perhaps you would be interested in knowing how much our gas is taxed at the pumps? Did you know that a barrel of oil contains 192 Litres of oil, but that only makes 85 litres of gas! Are you aware that in Oslo, Norway, a regular litre of gas costs $1.65? and in Caracas, Venezuela, the same litre costs $0.03!!!Anyways, read the book if you find that stuff intersting (think JV presentations) but the quote I liked the best was from the last paragraph in the book. David Finch is suggesting things to do to help in the inevitable `bust` of the `boom` and I quote:
"Fourth, be ready for the unexpected.Though some people suffered from the downturn of the 1980`s, others did fine. A house purchased by a young couple at the bottom of the market in the 1980`s is now debt-free and holds hundereds of thousands of dollars in equity-maybe even more.
The Oil Patch is a gamble-that`s what makes it so exciting. Rags to riches. Poverty to penthouse. There`s nothing wrong with gambling unless you expect to win every time.
Finally, find a way to be happy every day, or see the fun side. As Bob Edwards, the irascible editor of the Calgary EYE OPENER newspaper, noted, "The trouble with this oil situation at this formative stage is that you are never sure whether the man you meet on the street is multi-millionaire, or just an ordinary, common millionaire."
Happy Investing Folks....calvin
"Fourth, be ready for the unexpected.Though some people suffered from the downturn of the 1980`s, others did fine. A house purchased by a young couple at the bottom of the market in the 1980`s is now debt-free and holds hundereds of thousands of dollars in equity-maybe even more.
The Oil Patch is a gamble-that`s what makes it so exciting. Rags to riches. Poverty to penthouse. There`s nothing wrong with gambling unless you expect to win every time.
Finally, find a way to be happy every day, or see the fun side. As Bob Edwards, the irascible editor of the Calgary EYE OPENER newspaper, noted, "The trouble with this oil situation at this formative stage is that you are never sure whether the man you meet on the street is multi-millionaire, or just an ordinary, common millionaire."
Happy Investing Folks....calvin