Kodiak Oil & Gas Corp (USA) (KOG), ConocoPhillips (COP), Denbury Resources Inc. (DNR): Positive Effects of Higher Oil Prices

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As a nation, we could get to the point where we choose to reinvest some of our oil profits into renewable energy, so as to wean ourselves off our dependence on oil. If we could ever produce more than we need, it would open up the possibility for lucrative oil exports. I know it’s a stretch to think about, but it would be nice it see our nation get to the point where we didn’t need oil and instead could sell it to those that do.

Foolish bottom line
Right now, oil priced in a range from $90 to $100 a barrel is proving to be fairly a happy medium, as consumers are now used to paying more than $3 for a gallon of gas and producers can make a pretty penny producing oil from most sources. Oil is also at a high enough price point to make investing in renewable energy more economically viable. And perhaps most importantly if you’re an investor in the energy sector, high oil prices can have a very positive effect on your portfolio, as higher prices offer multiple opportunities to profit.

The article Positive Effects of Higher Oil Prices originally appeared on Fool.com.

Fool contributor Matt DiLallo owns shares of ConocoPhillips. The Motley Fool owns shares of Denbury Resources.

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