Knowing surrounding personal and economic circumstances will help you determine if this is actually the best time for you to invest directly in oil and gas. As an investment vehicle with very high stakes, high risks, but potentially higher returns as well, it is important to carefully consider the status of your personal finance and the economic environment before making out a check for your investment in an Oklahoma City oil well or drilling company.
Oil in Oklahoma City
Investors need to know if they are indeed financially ready to part away with a huge some of their money for this investment. Direct oil investment is a very decision and you will need to consider how personally ready you are for the risks as well as the benefits of the investment. For instance, performing your due diligence will help you prepare are anticipate the risks that you may face later on. How ready are you to take these risks? Do you think you can personally handle the emotional and mental stresses of these risks?
Furthermore, financial readiness is a very important point before making an investment. Investors are recommended to take care of their existing bills and debts, as well as build ample savings. Due diligence should also inform you of the current oil climate and the short and long-term economic oil forecasts.
Let Expert Advice Guide Your Oil & Gas Investments
Your decision of whether or not to pursue Oklahoma City oil & gas investments today will depend on all of these factors and should not be based on another investor’s success or failure. While we may live in the same oil climate, the personal and financial circumstances could be different. Be guided by expert advice, your gut feeling as well as ample research, and you should be able to reach the best decision.
Oil in America Since the 1973 Embargo
The 1973 Arab Oil Embargo saw a US oil crisis of unprecedented levels. After America expressed its support for Israel which was in war with Saudi Arabia at the time, Saudi decided to pull out its oil imports to the US.
The impacts of the five-month oil embargo left the Americans clamoring for more oil but taught them to be frugal as well. Indeed, it was a total game-changer for the US oil industry, one that left lessons held forever valuable to the rest of the Americans.
The oil embargo inspired every American president to achieve energy independence. This meant US will no longer have to rely on imported oil and not be affected by the fluctuations from the global market. With this insight, energy-efficient technologies and methods were developed to help the country use energy wisely.
Tapping Oil & Gas Deposits in the US
The oil embargo also prompted the US to tap its own undergrounds for oil and gas like the shale deposits near Oklahoma City and throughout the South. Although oil drilling in the US has already begun a hundred years before, insufficient and expensive technology debilitated the drilling industry. The oil embargo encouraged the development of newer technologies, like hydraulic fracturing, horizontal drilling, as well as more advanced seismic equipment, to increase the success rates for oil drilling.
Oklahoma City Oil & Gas Investing
Suffice to say, the 1973 Oil Embargo made significant contributions to the modern day oil boom. More than four decades after it happened, the oil embargo left a bitter memory but it sweetened the American’s desire to become more energy-independent by relying on domestically-sourced oil.