Oil and gas scams have been around for decades and they come on with a with a real pitch. Oftentimes you get color brochures with pictures of oil wells you’re almost thinking of Jed Clampett. You know shooting for gold up in the hills and but the problem with oil and gas investments is they’re very illiquid and oftentimes what you get is a dry hole because you don’t know when you started to an oil and gas investment or an oil well investment. You don’t know in the first instance if you’re ever even going to get oil out of that. Well your monies might be used just to drill a dry hole and then the other problem with the private with the oil and gas investments which they’re sold on a private placement context is that a good chunk of the money goes to the promoters that could be fifteen-twenty five percent and sometimes they have hidden participation issues whereby if you do strike it the promoter gets a big piece of the action as well and heads I win tails you lose. Oil and gas investments by and large are not for the average American and but they’re sold with high-pressure tactics and they’re oftentimes sold during cycles when oil prices are high and everyone’s thinking that oil is the only way to go but it’s a very un-diversified investment and you could you could lose all your money and in most instances you probably will not get your money back.
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