All in all, there are three key points to keep in mind here:
1. Over the long term, the price of a commodity is unknown.
2. Commodities will run out, and if the company does not evolve then it will have nothing to sell.
3. Commodity companies have no pricing power, so if costs rise the company's margins rapidly fall.
These three key points make commodity investing look highly speculative. That's why Buffett avoids commodities: They are just too speculative for him.
以上是转贴。
如果长远点考虑，加国政府可以长期保护加国银行的经营特权，但是加国政府对石油价格没有任何影响力。
所以在加国投资能源行业比投资银行要难度大。
能源行业肯定是可以投资的，我以前看到一美国人投资su,盈利10倍以上。
做为一个投资类别，能源行业的投资难度较高。
