With oil so cheap, possible investment in land soon?

[Fermion]

I am reading that prices per barrel on ND shale are in the upper $30s, down from near $90. (I guess the lower price resulting from high cost of transportation).

One might expect that soon there could be great discounts in land values for people who had not yet signed a contract for their resources. I do not think that long term shale oil is dead, but it might be on life support for awhile. Could this be a similar opportunity to buy some income producing land for pennies on the dollar as the housing market was in 2009?

 

[dd564]

I anonymous person said to watch XOM if the price drops to $30 or under. Then load up for good divendends for 20 years.

 

[marko]

I anonymous person said to watch XOM if the price drops to $30 or under. Then load up for good divendends for 20 years.

Under $30...the price of oil or the price of XOM?

 

[Fermion]

Under $30...the price of oil or the price of XOM?

I thought he meant oil, because if he means XOM you could make a killing shorting it from the current $90 price down to $30. Just buying $80 puts for $1 and you would make 5000% profit.

 

[MaddMaxx]

I work for a shale producer, our stock has been down 40% plus since oil went down, I bought about 2% of my portfolio in the company stock for the hopeful long term ride back up.