Do high oil prices burn you up?

In the past, I have talked about the fact that whether you are happy with a situation or not depends on how you look at it. Take, for instance, low interest rates on GICs. If you lend your money to the bank, you are very unhappy with low GIC rates. On the other hand, if you own bank stocks, and participate in the profits of the banks, you are happy with declining interest rates, as they generate more bank profits.

It is the same story with oil prices. High oil prices mean you have to spend more money at the oil pumps. On the other hand, there is lots of money to make in energy stocks when oil prices are high.

Before you criticize oil companies for making too much money at your expense, remember that oil companies don