I issued this challenge to a friend of mine… I'll do the same here. First come, first serve on it.
I'll venture that on a 200 dollar investment in the oil and gas industry I can get a better return than you can in renewable energy. Winner takes all of the returns from the losers seed.
The rules:
1. The investment must be one registered, publicly traded company at a time (all or none, holding cash is acceptable - but investments must be made over the course of the year)
2. Transactions must be emailed prior to taking place in order to prevent retroactive lying.
3. The investment must be tied up in securities for at least 300 of the 365 days.
Of course, nobody in their right mind would take this on, because oil and gas makes more money than any renewable.
These cycles are healthy, they promote consolidation in the industry, they give employers an opportunity to cut terrible performers while retaining positions, they invite investment, they drive demand (more of you are driving / flying), and they weed out weak and debt laden companies.
As for the jokes about Albertan's losing all their stuff… that will certainly be the case for a number of young men who didn't plan for this. It will also be the case for families who were stretched, service industry workers who were trying to grind out 9-5 shifts at hotels and restaurants, people who just purchased homes and are looking at contracting values (me included in this one, I purchased at the height in August), and small business owners of various kinds.
So if you want a cheap sled or quad, ya, you will be able to pick one up… but those guys are the minority. It's not worth joking about, people are going to go bankrupt, kids will be eating out of food banks, and homes may even be foreclosed on.
Is it any more right to laugh at a rig worker who failed to plan then a stretched little old newfoundland housewife who opened a restaurant? I don't think so - they're unfortunate victims of circumstance and they don't deserve to be mocked in their misery.