I love Fly’s thoughts on the market, long oil and short everything else–it just makes sense.
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In the oil space I want to focus on the service sector. I spoke to a guy who works offshore, and his company is preparing to drill off the coast of Florida. From what I hear there is a ton of oil in this area, but the problem is that it‘s a “No Drill Zone,” until now.
With oil at record levels, Bush is giving the all clear to drill in this area. This only means more money for the drillers as everyone tries to capture this gold mine. I will be doing more work on this, stay tuned.
You can find some great ideas right here.
…..Charts tonight
Dude, just because Daddy Bush says he wants it to happen doesn’t mean it will. It has to go through Congress. God willing, that will never happen.
Even if it did, it would take years to get drilling started.
-DT
I am offering my property here for any oil company that wants to drill.
Dinoboy… if the Dems keep backing the elk and the Sierra Club over living voters (I know, they’ve got the dead ones covered), there won’t be any in Congress in 2009.
There’s a shortage of rigs. Also look at the companies that build the rigs.
RDC is a driller. It has a division that builds rigs.