 To Understand this parable we must Understand two things:
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1. that oil represents the HolySpirit . <br>
2. that there is no oil in the 5 virgins` lamps
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 Jesus was talking to Jews who were banking on self-righteousness to please God .
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Virginity represents purity through self-control.
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A Lamp is just a tool for containing oil and providing a wick for the energy in the oil to produce Light .
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The Scripture Says the 5 Foolish virgins took Lamps but <b>no oil</b>. Matt 25:3 <br>
So, we should not assume there was any oil in there lamps. 
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The 5 Foolish virgins represent Religious people who do not Receive Christ .
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Jesus told Nicodemus: ~You must be Born of the Spirit to see or enter the Kingdom of Heaven .~  John 3:3-5 
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When we are BornAgain we are Born of the HolySpirit . We enter the Kingdom of Heaven at that point.
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The door was shut in the face of the 5 Foolish virgins because they rejected Christ and therefore were never Born of the HolySpirit .
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So, Jesus was not introducing a new Doctrine regarding acceptability to God .
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He was restating the requirement that we be BornAgain to enter His Kingdom .
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<i> Jesus saith unto him, I am the Way , the Truth , and the Life : no man cometh unto the Father , but by me.</i> John 14:6  
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 John 10:1-5 Matt 7:12,13 Luke 13:24 Acts 4:12 John 1:5 John 3:19 Acts 2:38 Rom 3:24 

