Matthew 25:3

ἔλαιον : the statement about the foolish, indicating the nature or proof of their folly, is that they took their lamps but did not take oil. None? or only not a supply sufficient for an emergency possible delay? Goebel (Die Parabeln Jesu) decides for the former view. His idea of the whole situation is this: the virgins meet at the bride's house, there wait the announcement of the bridegroom's approach, then for the first time proceed to light their lamps, whereupon the foolish find that there is nothing in the dish except a dry wick, which goes out shortly after being lighted. In favour of this view he adduces the consideration that the other alternative makes the wise too wise, providing for a rare occurrence. Perhaps, but on the other hand Goebel's view makes the foolish too foolish, and also irrelevantly foolish, for in the case supposed they would have been at fault even if the bridegroom had not tarried. But the very point of the parable is to illustrate the effect of delay. On the various ways of conceiving the situation, vide The Parabolic Teaching of Christ.