Warns Consumers to be on the Lookout for Oil and Gas Scams

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Individual investors need to use caution when considering investing in energy programs

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Be wary of unsolicited calls or letters. Legitimate investment opportunities are rarely sold using telemarketing or direct mail.

According to a recent report by the Journal Star, state departments of Banking and Finance across the country are warning citizens considering investing in oil, gas, or alternative energy programs to be on the lookout for scams.

With the nation focused on sky rocketing gas prices, scammers are targeting unsuspecting residents offering investment opportunities in traditional and alternative energy projects. According to investigators, these investments carry a high risk and can be financially devastating to smaller investors.

As oil prices soar, legitimate, along with a fair share of illegitimate investment opportunities tend to emerge.  In many states oil and gas investment programs are governed by individual securities laws, which means both the investment and the party selling the investment must be registered with the state before the investment can be sold.

While many legitimate investment opportunities exist, it may be difficult to recognize the ones that are fraudulent. It‘s been reported that scam artists tend to target individual victims by making unsolicited phone calls, pitching a unique business opportunity. In many cases victims of oil, gas, and alternative energy fraud don’t realize they have been conned until long after their money is gone. suggests the following guidelines when considering investing in any company:

  • Independently research the background of the promoters and the company by checking the BBB, as well as verifying that the ‘investment opportunity’ is registered with the Department of Securities of your state.
  • For unsolicited phone calls, obtain contact information from the individual calling and use to run a reverse phone search to get more information about the individual or company.
  • Request everything in writing with a clear explanation of the investment opportunity and then carefully review the document.
  • Be wary of unsolicited calls or letters. Legitimate investment opportunities are rarely sold using telemarketing or direct mail.
  • Consult with a trusted financial advisor about the validity of an investment opportunity before handing over a check.

About is a consumer website designed to help people gather the information about businesses and individual phone numbers to make informed decisions. provides specific information about a land-line phone or a cell phone, the city where the phone number is located, who owns the phone number, or even the address of the phone. also provides information about the geographic area of the phone number, where other users can share their experiences and insight of the best restaurants, best coffee shops, and most notable sights in the area.

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Juliette Serr
(641) 715-3900 134404
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